Reliance Industries Ltd.

Reliance Industries (RIL), since the launch of its share repurchase programme in February, has repurchased shares worth over Rs 3,800 crore from public shareholders. This is the biggest buy-back by an Indian company, after Piramal Healthcare bought back shares to the tune of Rs 2,508 crore in 2011.

Earlier on February 14, 2012, the company began a buyback programme targeting to repurchase Rs 10,440 crore, however, so far, the company has purchased shares worth Rs 3,855 crore, achieving 37% of the target with less than a month left for its completion.

Between February 14 and December 24, RIL had purchased 4.62 crore shares from the secondary market at an average price of Rs 834 apiece. The company’s buyback would end on January 19, 2013.