Onward to offload 25% stake

Engineering design service company, Onward Technologies Ltd is close to offering a 25 per cent stake to a US-based design company.

"It should take 2-3 months to offload the 25 per cent stake to the strategic investor. We had talked to some venture capitalists but we don't think that will materialise," the company's chairman and managing director, Harish S Mehta, told Business Standard.

At present, Mehta family holds 55 per cent stake in Onward Technologies.