Mindteck (India) Limited (BSE:517344) announces a share repurchase program. Under the program, the company will repurchase INR 137 million worth of its shares. The shares will be repurchased at a price of INR 180 per share.

The purpose of the program is to return surplus funds to equity shareholders, improve earnings per share, thereby leading to long term increase in shareholder value. The program will be funded from free reserves, current surplus, cash/cash equivalents and/or internal accruals and/or liquid resources and/or other sources permitted by Act. The program is valid till February 23, 2023.

As of August 11, 2022, the company had 25,779,317 shares in issue.