Reliance Infra buy back offer

by khalid on 28/03/2011 · 1 comment

Anil Ambani led Reliance Infrastructure offer its Rs 1000 crore share to the retail investors at a price of Rs 725 a piece. This offer price is a premium of approximately 17% to the current market price. The company plans to buy 8.34% shares from public shareholders.

Under the offer, the company will repurchase up to 1.38 crore shares from non-promoter shareholders for a maximum price of Rs. 725 a piece. The company has done three buy backs for an aggregate amount of Rs 923 crore.

Meanwhile, Reliance Infra today posted a 10.16 per cent rise in net profit for the quarter ended December 31, 2010, to Rs 405.25 crore. The company had reported a net profit of Rs 367.87 crore for the same period last year.

Total operating income of the company rose to Rs 3,744 crore in the Q3 FY11 quarter from Rs 3,287 crore in the same quarter of last year.

Share’s Data :-
BSE Code : 500390
Mkt. Cap : Rs 17,704.55 Crores
Reliance Infrastructure Ltd. share’s CMP is Rs 662.10 on 28th Mar 2011.

Stay tuned to BelltheBull Blog for more news on Reliance Infrastructure Limited !

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