Onward Technologies Limited has announced the allotment of 8,500 equity shares to an eligible employee under its Employee Stock Option Scheme (ESOP) 2019. This resolution was passed by circulation during a Nomination and Remuneration Committee meeting of the company’s Board of Directors on March 21, 2025.
The equity shares have a face value of ₹10 each and were issued at an exercise price of ₹20 per share, including a premium of ₹10. These newly allotted shares carry parity with existing shares and take the total issued shares of the company to 2,26,85,570.
There is no lock-in period for these shares, and they are listed on both the BSE Limited and National Stock Exchange of India Limited under the scrip code BSE: 517536 | NSE: ONWARDTEC.
This allotment aligns with the company’s commitment to enhancing employee engagement through equity ownership and long-term value creation.
Key Details:
- Shares Allotted: 8,500 Equity Shares
- Issue Date: March 21, 2025
- Total Issued Share Capital: ₹22,68,55,700
- ISIN: INE229A01017
- Scheme: Onward Employees Stock Option Plan 2019 (ESOP 2019)
Effect on Share Market:
The allotment under ESOP 2019 is a neutral to slightly positive event for Onward Technologies’ stock in the short term. It reflects strong employee retention strategies and can boost investor confidence regarding internal growth and stability. However, due to the small number of shares issued (8,500 shares), the impact on overall share price is expected to be minimal, unless followed by further developments or announcements.
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