Man Infra shares touched a day high of ₹126.44 on Tuesday after the board approved a ₹169.29 crore share buyback.

The real estate and construction company said its board has cleared a plan to buy back up to 99 lakh equity shares, at a maximum price of ₹171 per share.

In simple terms, a buyback means the company purchases its own shares from the open market, which reduces the total number of shares available to the public and often signals that management sees value in its own stock.

This buyback will happen through the open market route, using regular stock exchange trading.

It’s worth noting that promoters and the promoter group won’t be part of this process, only other shareholders can sell their shares back to the company.

The company has also set up a dedicated buyback committee to manage how this plays out over the coming weeks, with further details on timelines and procedures expected to be released soon.

The scale of this buyback works out to about 2.45% of Man Infra total paid up equity capital.

If the shares end up getting bought at a price lower than the ₹171 cap, the company could end up repurchasing more than 99 lakh shares, as long as the total spend stays within the ₹169.29 crore limit.

Once this process is complete, promoter holding in the company is expected to rise from around 62.52% to 64.09%, while public shareholding will drop slightly to about 35.91%.

Man Infra ended the day at ₹124.56 on the NSE, up 1.58%.

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