Reliance Infrastructure today said promoters’ stake in the company has risen to 48.53 per cent following the Rs 234.32 crore share buyback programme,which ended on February 13.
In a regulatory filing to the BSE,the Anil Ambani- promoted company said promoters’ used to hold 47.73 per cent stake in the company,as on March 25 last year.
Following the buyback of shares,non-promoters’ now hold 51.47 per cent stake in the firm from 52.09 per cent earlier.
Reliance Infrastructure promoters’ currently hold 12.76 crore shares in the company,while non-promoters have 13.54 crore shares.
The coampany had begun its Rs 1,000 crore share buyback programme on April 11 to reiterate the management’s confidence in the company’s future growth prospects and to lower the short-term volatility and speculative trades in the stock.
However,it could only buy 44.3 lakh shares at an average price of Rs 528.91 each totalling to Rs 234.32 crore,which is 23.43 per cent of the amount authorised for the buy-back.
R-Infra shares were trading at Rs 633.75 apiece on the BSE in afternoon trade,up 1.26 per cent over the previous close.