Reliance Infra buys back shares worth Rs127 crore

Anil Ambani controlled Reliance Infrastructure has bought-back 2.5 million shares, worth Rs 127.38 crore at an average price of Rs 509.54 a share. The company has extinguished 21,74,572 shares till date and is in the process of extinguishing 325,428 shares that bought- back, said the R-Infra in a statement to stock exchanges.

The buy-back commenced on February 25, 2009 and closed on April 08, 2009. Till closure, the company has utilised 18.20 per cent of the amount authorized for the buy-back. Last year, R-Infra had announced the buy-back at a maximum price of Rs 700 per share for an aggregate amount of Rs 700 crore .

Post buy-back, the authorized share capital of the company will stand at Rs 1,950 crore with 350 million shares, 1,550 redeemable preference shares, 8 million shares with differential rights and 4 2 million unclassified shares, all of Rs 10 each. Issued share capital will be Rs 227.67 crore. Subscribed and paid-up share capital will be Rs 225.27 crore.