RIL extinguishes over 22 lakh shares from buyback
Friday, January 28 2005 10:49 Hrs (IST) - World Time - 
New Delhi:
Reliance Industries Ltd (RIL) yesterday (Jan 27, 2005) said it has extinguished 22,27,630 shares pursuant to its buyback process initiated on January 10.
The company is understood to have spent an estimated Rs 115 crore for buyback of these shares.
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"Reliance Industries Ltd has extinguished 22,27,630 shares bought back up to January 19, 2005, pursuant to the buyback of the shares.
"After this extinguishments, the issued, subscribed and paid up equity capital of the company is 139,41,49,906 shares as on January 25, 2005 (Post Extinguishment)," it informed the Bombay Stock Exchange (BSE).
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RIL, headed by Mukesh Ambani, had decided at the December 27 Board meeting about the nearly year-long buyback programme, while approving an outlay of Rs 2,990 crore with a maximum price of Rs 570 for repurchase of company's shares from the open market.
It kicked off the buyback programme on January 10, purchasing over six lakh shares for about Rs 34 crore at an average price of Rs 539.62. Till January 24, the company had purchased over 28.69 lakh shares for about Rs 149.62 crore.
PTI
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