Reliance Infra buys back 25 lakh shares for Rs 127.38 cr

MUMBAI: Anil Dhirubhai Ambani group firm Reliance Infrastructure said its promoters has bought back 25 lakh additional shares worth Rs 127.38 crore from existing shareholders.

"Pursuant to the buy-back offer, which commenced on February 25, the company bought 25 lakh equity shares for Rs 127.38 crore," Reliance Infrastructure said in a filing to the Bombay Stock Exchange.

"The closure of the buy-back was on April 8, and the payout formalities were completed on April 10, 2009," the company said, adding "till closure of buy-back, the company has utilised 18.20 per cent of the amount authorised for the buy-back."

The equity shares were bought-back at an average price of Rs 509.54 per share and pursuant to the buy-back, the company's authorised share capital stood at Rs 1,950 crore.

Earlier in February, the company had completed its Rs 796 crore buy-back and purchased 87.60 lakh shares from its shareholders.

Reliance Infrastructure (earlier known as Reliance Energy) in March last year had said that it would buy back shares worth Rs 2,000 crore.

Shares of the company closed at Rs 710.30, up 7 per cent on BSE.