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Man Infraconstruction Approves ₹169.29 Crore Buyback at ₹171 Per Share
By Tertius News AI Desk2 distinct · 2 mastheads · 2 articlesVersion 1Coverage Published
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Man Infraconstruction Ltd has approved a share buyback worth up to ₹169.29 crore, with a maximum price of ₹171 per equity share. The board cleared the proposal on September 1, according to the company's exchange filing. The buyback will be conducted through the open-market mechanism on both the NSE and BSE, and will be paid entirely in cash.
The buyback is open to eligible shareholders and beneficial owners, excluding promoters, the promoter group, and persons in control. At the maximum 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 ₹2 each. If shares are acquired below ₹171, the actual number bought back could exceed 99 lakh, subject to the total spending cap of ₹169.29 crore.
The repurchase represents 2.45 percent of Man Infraconstruction's existing paid-up equity capital as of September 1, 2026, and remains below the statutory ceiling of 25 percent of paid-up capital. Based on the company's March 2026 audited accounts, the maximum buyback size amounts to 8.66 percent of standalone paid-up capital and free reserves and 7.99 percent on a consolidated basis, both within the applicable 10 percent limit.
Assuming all 99 lakh shares are repurchased at ₹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, but 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.
The company will utilise at least 75 percent of the maximum buyback size, or ₹126.97 crore, for the offer, which translates to a minimum purchase of 74.25 lakh equity shares at the maximum price. At least 40 percent of the maximum buyback size, or ₹67.72 crore, will be utilised during the initial half of the offer period. Transaction costs are excluded from the approved buyback size.
The maximum buyback price of ₹171 represents a 50.18 percent premium to the closing market price on BSE and NSE on August 26, according to the board resolution. The company said the buyback price was arrived at after considering factors including market-price trends, its net worth, and the potential impact on earnings per share and other ratios.
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.
Despite the buyback approval, Man Infraconstruction shares fell 4 percent in Wednesday's trade. The stock opened at ₹124.99 against the previous close of ₹124.56 on BSE and hit a low of ₹119.11, down 4.38 percent from the previous close. It touched a high of ₹125.08 before closing at ₹123.27, down 1.04 percent.
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Framing: Shares fall and the approval of a Rs 169 crore buyback is the focus
Facts Included:
The buyback will be carried out at a maximum price of Rs 171 per equity share.
The maximum buyback price of Rs 171 represents a substantial premium to the stock's market price.
Under the proposed buyback, Man Infraconstruction will purchase shares from shareholders and beneficial owners other than promoters, the promoter group and persons in control.
The buyback will be conducted through the open market mechanism on both the NSE and BSE.
At the maximum buyback price and size, the company proposes to buy back up to 99 lakh equity shares.
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Claim
Confidence
Status
ClaimMan Infraconstruction Ltd approved a share buyback worth up to Rs 169.29 crore.
ClaimUnder the proposed buyback, Man Infraconstruction will purchase shares from shareholders and beneficial owners other than promoters, the promoter group and persons in control.
ClaimBased on the company's March 2026 audited accounts, the maximum buyback size represents 8.66 percent of standalone paid-up capital and free reserves.
ClaimThe company will also ensure that at least 40 per cent of the maximum buyback size, or Rs 67.72 crore, is utilised during the initial half of the offer period.
ClaimThe company said the buyback price was arrived at after considering factors including market-price trends, its net worth and the potential impact of the buyback on earnings per share and other ratios.