Mumbai: Man Infraconstruction Limited has approved a share buyback worth up to Rs 169.29 crore, offering investors an exit price capped at Rs 171 per equity share.
The company’s board cleared the proposal at its meeting on September 1. The exercise will be conducted through the open-market route using the stock exchange mechanism and paid for entirely in cash.
Buyback covers 2.45 percent equity
At the maximum buyback price and full deployment of the approved amount, the company may repurchase up to 99 lakh fully paid-up equity shares with a face value of Rs 2 each.
These shares represent 2.45 percent of Man Infraconstruction’s existing paid-up equity capital as of September 1, 2026. The proposed repurchase remains below the statutory ceiling of 25 percent of the company’s paid-up equity capital.
If shares are acquired below the maximum price of Rs 171 apiece, the actual number bought back could exceed 99 lakh. However, total spending will remain capped at Rs 169.29 crore.
Promoters excluded from offer
The buyback is available to eligible shareholders and beneficial owners, excluding the promoters, promoter group and persons acting in control of the company.
Based on the company’s March 2026 audited accounts, the maximum buyback size represents 8.66 percent of standalone paid-up capital and free reserves and 7.99 percent on a consolidated basis. Both remain within the applicable 10 percent limit.
Public holding may decline
Assuming all 99 lakh shares are repurchased at Rs 171 each, total outstanding shares would fall to 39.38 crore from 40.37 crore.
The promoter group’s holding would remain unchanged at 25.24 crore shares, while its ownership would rise to 64.09 percent from 62.52 percent. Public shareholding could decline to 14.14 crore shares, or 35.91 percent, from 37.48 percent.
A board-appointed buyback committee will oversee execution. Detailed timelines, procedures and statutory terms will be announced separately in accordance with SEBI’s buyback regulations.
Transaction costs, including taxes, brokerage, filing fees and publication expenses, are excluded from the approved buyback size. These costs will be borne over and above the ceiling.
Disclaimer: This article is for informational purposes only and should not be considered investment advice; consult a financial adviser before investing.
