Reliance Industries (RIL) announced on Wednesday that it had bought back 71,92,462 shares for Rs 538.56 crore as on April 30, 2012.
The average buyback price per share works out to Rs 748.78.
The Reliance Industries board had approved buyback of up to 12 crore shares or 7.22 per cent in January this year. The maximum price of buyback had been limited at Rs 870 per share.
RIL will pay out a maximum of Rs 10,440 crore for this buyback. The buyback opened on February 1, 2012 and the last date is January 19, 2013.
Citigroup Global Markets and DSP Merrill Lynch are the managers to the buyback.