Reliance Infrastructure Ltd, part of Anil Dhirubhai Ambani group, has announced another round of buy-back programme for equity shares for amout up to Rs 700 crore from shareholders.
This is second phase of buy-back programme under which the company will purchase shares upto maximum price of Rs 700 per share through open market operations, the company informed the Bombay Stock Exchange.
It has already bought 87.60 lakh shares worth Rs 796 crore in the first phase.
The proposed buy-back programme is expected to decrease the outstanding equity shares and increase earnings per share, improve return on net worth, the company said.
At present, its diluted equity capital is Rs 227.77 crore with a market capitalisation of Rs 12,500 crore.
The stock is trading around 574.05 per share against yesterday’s close of Rs 550 per share on BSE.
