Onward Technologies Ltd. — Capital/Financing Update 2021

Jun 6, 2021

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To

Date: June 05, 2021

BSE Ltd.P. J. Towers, Dalal Street,Mumbai - 400 001Script Code: 517536	National Stock Exchange of India Ltd.‘Exchange Plaza’, C-1, Block GBandra-Kurla Complex,Bandra (E), Mumbai 400 051Script Symbol: ONWARDTEC

Sub : Intimation of Incorporation of Wholly Owned Subsidiary- Onward Technologies B.V, Amsterdam.

Disclosure under Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015

Dear Sir(s)

It is hereby informed that the board of directors at their meeting held on Friday, January 15, 2021 have approved the formation of wholly owned subsidiary for expanding its footprint to carry out the business of engineering designing and IT services in Netherlands. The said wholly owned subsidiary named Onward Technologies B.V. having KvK-number - 82990824 situated at Keizersgracht 391 A, 1016EJ Amsterdam was registered on Friday, June 04, 2021 and the Company has received the registration certificate for the same.

The details as required to be furnished under SEBI (LODR) Regulation, 2015 read with SEBI Circular no. CIR/CFD/CMD/4/2015 dated September 09, 2015 is furnished in “Annexure A” forming part of this letter.

You are requested to take the same on record.

Yours faithfully

For Onward Technologies Ltd.

DIMPLE Digitally signed by DIMPLE CHAUHAN CHAUHAN Date: 2021.06.05 10:28:50 +05'30' Dimple Chauhan Company Secretary

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2nd floor, Sterling Centre, Dr. A.B. Road, Worli, Mumbai 400018. Tel: +91 22 24926570 CIN: L28920MH1991PLC062542 | www.onwardgroup.com

Mumbai | Pune | Chennai | Chicago | Detroit | Cleveland | Frankfurt | Bengaluru | London

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ANNEXURE-A

Disclosure under Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015

Name of the target entity, details in brief such as size, turnoveretc.;	Name of the target entity, details in brief such as size, turnoveretc.;	Name of the target entity, details in brief such as size, turnoveretc.;	Name of the target entity, details in brief such as size, turnoveretc.;	Onward Technologies B.V.Issued capital - EUR 200,000.00(200,000 shares at nominal value of Eur 01 per share)Turnover – NIL (Yet to commence the businessoperations)	Onward Technologies B.V.Issued capital - EUR 200,000.00(200,000 shares at nominal value of Eur 01 per share)Turnover – NIL (Yet to commence the businessoperations)
Whether the acquisition would fall within related partytransaction(s) and whether the promoter/ promoter group/ groupcompanies have any interest in the entity being acquired? If yes,nature of interest and details thereof and whether the same isdone at “arm’s length”;				Not Applicable, as company is newly incorporatedwholly-owned subsidiary of Onward TechnologiesLimited.
	t arms leng	th;
Industr	t hih t	tit bi id bl		Si d lt i th fild f Eii	es.
	y o wc	e eny eng acqure eongs;		ervces an consuancy n e e o ngneerngResearch and Development (ER&D), Digitaltransformations and Information Technology Servic
Objectsdisclosis outsi	and effectsure of reasonde the main	of acquisition (including bs for acquisition of targetline of business of the liste	ut not limited to,entity, if its businessd entity);	The object of wholly-owned subsidiary would bethe field of Engineering Research and Developm(ER&D), Digital Transformations and Informat	inention
				Technology Services.
Brief defor the	tails of anyacquisition;	governmental or regulator	y approvals required	Not Applicable
Indicati	ve time peri	od for completion of the a	cquisition;	Not Applicable as WOS is incorporated in June2021	04,
Natureswap a	of considera	tion - whether cash consid	eration or share	100% Subscription in Cash by the Company
	nd details of	the same;
Cost ofbe acq
	acquisition	or the price at which the shares are acquired/to		EUR 200,000.00
	uired;			Nominal Value: Eur 01 per share
Percentage of shareholding / control acquired and / or number ofshares acquired;
	tage of share	holding / control acquired and / or number of		100%
	acquired;
Brief background about the entity acquired in terms ofproducts/line of business acquired, date of incorporation, historyof last 3 years turnover, country in which the acquired entity haspresence and any other significant information (in brief);				Not Applicable

2nd floor, Sterling Centre, Dr. A.B. Road, Worli, Mumbai 400018. Tel: +91 22 24926570 CIN: L28920MH1991PLC062542 | www.onwardgroup.com

Mumbai | Pune | Chennai | Chicago | Detroit | Cleveland | Frankfurt | Bengaluru | London