Exemption for Buy Back Capital gain

Yes, you can claim exemption by investing your buy back capital gain provided it is long term capital gain and amount is invested within 6 month from the date of transfer of long term asset.

Further the investment made on or after April 1,2007 in long-term specified assets viz. bonds of NHAI and REC  by an asseessee during any financial year cannot exceed Rs. 50 lakh.