Date: September 28, 2026
Board Meeting Outcomes
- The Board of Directors at its meeting held on Monday, September 28, 2026 approved an investment of up to ₹13,10,40,000 (Rupees Thirteen Crores Ten Lakhs Forty Thousand Only) by way of subscription to up to 1,05,000 1% Optionally Convertible Redeemable Preference Shares (OCRPS) of OT Park Private Limited
- The investment is pursuant to a Rights Issue by OT Park Private Limited
Investment Details
- Investment Amount: ₹13,10,40,000
- Instrument: 1% Optionally Convertible Redeemable Preference Shares
- Number of Shares: Up to 1,05,000 shares
- Face Value: ₹10 per share
- Issue Price: ₹1,248 per OCRPS
- Nature of Consideration: Cash
Target Entity Details (OT Park Private Limited)
- Status: Wholly-owned subsidiary of Onward Technologies Limited
- Industry: Real estate / property holding and related activities
- Authorised Share Capital: ₹40,00,000 divided into:
- 2,60,000 Equity Shares of ₹10 each (₹26,00,000)
- 1,05,000 1% Optionally Convertible Redeemable Preference Shares of ₹10 each (₹10,50,000)
- 35,000 7.5% Redeemable Cumulative Preference Shares of ₹10 each (₹3,50,000)
- Paid-up Share Capital: ₹25,37,500 divided into 2,53,750 Equity Shares of ₹10 each
- Audited Turnover: ₹237.98 Lakhs
Transaction Specifics
- Related Party Transaction: Yes, as OT Park is a wholly-owned subsidiary
- Governmental Approvals: Not applicable
- Timeframe for Completion: Upon completion of applicable corporate and statutory formalities
- Post-investment Control: Company will continue to retain control over OT Park as its wholly-owned subsidiary
Utilization of Proceeds
The proceeds of the Rights Issue are proposed to be utilised by OT Park for:
- Funding business requirements
- Strengthening long-term operating infrastructure
- Workplace facilities for Onward Technologies
- Other general corporate purposes