Reliance Industries Ltd (RIL) has bought back 3,18,08,300 shares at an average price of Rs 713.67 per share.

An RIL statement on Wednesday said Rs 2,270.05 crore had been deployed as on June 26.

RIL’s board had approved buyback of up to 12 crore shares or 7.22 per cent on January 20 this year.

The board had fixed the buyback price at Rs 870 per share and the maximum payout at Rs 10,440 crore. The buyback opened on February 1, 2012 and the last date is January 19, 2013.

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