Anil Ambani group’s Reliance Energy has bought shares worth over Rs 220 crore, representing 25% of the buyback offer.
Till date, the company has completed the buyback of 17.80 lakh equity shares worth Rs 220.97 crore.
The company bought back 4 lakh equity shares yesterday, which marks a significant increase as compared to an average buyback of about 1.5 lakh shares since the commencement of the offer on March 25.
The last date for the buyback would be March 4, 2009, a year from the date of the Board's approval for the offer on March 5, 2008.
The board of directors has approved buy-back of equity shares up to an aggregate amount of Rs 800 crore.
Last month, the Anil Dhirubhai Ambani company said it would buy back its outstanding equity shares for an aggregate amount of Rs 2,000 crore in two phases, the first for Rs 800 crore, the second for Rs 1,200 crore. The company would offer a maximum price of Rs 1,600 a share.
Shares of the company declined Rs 25, or 2%, to settle at Rs 1165. The total volume of shares traded was 2,046,053 at the NSE (Friday).
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