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| Promoters stake up to 48.53% in Reliance Infra after buyback |
| Press Trust of India / Mumbai Feb 16, 2012, 15:52 IST |
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Reliance Infrastructure today said promoters' stake in the company has risen to 48.53% following the Rs 234.32 crore share buyback programme, which ended on February 13.
In a regulatory filing to the BSE, the Anil Ambani-promoted company said promoters earlier held 47.73% in the company, as on March 25 last year.
Following the buyback, non-promoters now hold 51.47% in the firm from 52.09% earlier.
Reliance Infrastructure promoters currently hold 127.6 million shares in the company, while non-promoters have 135.4 million shares.
The company had begun its Rs 1,000 crore share buyback programme on April 11 to reiterate the management's confidence in the firm's future growth prospects and to lower the short-term volatility and speculative trades in the stock.
However, it could only buy 4.43 million shares at an average price of Rs 528.91 each totalling to Rs 234.32 crore, which is 23.43% of the amount authorised for the buy-back.
R-Infra shares were trading at Rs 633.75 apiece on the BSE in afternoon trade, up 1.26% over the previous close.
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