RIL share buyback closes, 38% of target achieved

Written by Press Trust of India | Mumbai | Updated: Jan 21 2013, 07:47am hrs
Reliance Industries (RIL) has bought back shares worth over Rs 3,900 crore from public shareholders through an about year-long share repurchase programme, achieving just about 38% of the target. The share buyback programme, the largest-ever by an Indian company, concluded yesterday, but the final figure might change as the data has been disclosed on the stock exchanges only for shares bought back till January 16.

Mukesh Ambani-led RI) began the buyback programme on February 7, 2012 with a target to repurchase shares worth about R10,440 crore from the public shareholders. The company had offered to buyback the shares at a price of up to Rs 870 each under the programme.