Reliance Industries Ltd (RIL) said on Wednesday that it had bought back 52,61,131 shares for Rs 396.04 crore as of April 17, 2012.
The average buyback price per share works out to Rs 752.77.
RIL’s board had approved buyback of up to 12 crore shares or 7.22 per cent on January 20 this year. It had capped the buyback price at Rs 870 per share.
RIL will pay out a maximum of Rs 10,440 crore for this buyback. The buyback opened on February 1, 2012 and the last date is January 19, 2013.
Citigroup Global Markets and DSP Merrill Lynch are the managers to the buyback.