The buy-back programme of Reliance Industries will open on February 1 and close on January 19, 2013, said the company in a public announcement.
The company would buy back up to 12 crore equity shares, comprising 7.22 per cent of the company's paid-up capital, at a price not exceeding Rs 870 a share.
The buy-back will be implemented through the Bombay Stock Exchange and National Stock Exchange. Citi Global Markets and Bank of America Merril Lynch are the managers to the buy-back.
On Wednesday, Reliance shares ended the day up 0.9 per cent at Rs 790.10 on the BSE.