Reliance Energy Ltd is planning to buy back part of its equity shares from the market.

The board would consider a proposal to buy back shares at its meeting scheduled on June 9, the company said in a release on Monday.

The promoter group, including Reliance Power Ventures, holds 48.1 per cent stake in the power company as on March 31, 2004, according to shareholding data available with the Bombay Stock Exchange.

The institutional stake including that of foreign institutional investors is 36.42 per cent while the Indian public holds 6.62 per cent in REL.

The global depository receipt investors have 8.17 stake in the company as on March 31, 2004.