DHFL, which has been severely impacted by the NBFC crisis which unfolded late last year following the IL&FS bankruptcy.

The stock zoomed 29.3 per cent to Rs 41.40, on the BSE. On the NSE, it jumped 29 per cent to Rs 41.30.

The repurchase of shares by listed companies is governed by the Buyback Regulations of Sebi as well as the Companies Act.

The bank's scrip declined 4.92 per cent to trade at Rs 34.75 apiece in afternoon deals on the BSE.

The entire RNAM stake monetisation proceeds will be utilised to reduce Reliance Capital's outstanding debt.

RIL has highlighted its plans to lower debt by 2021 as it divests assets and slows its investments.

The combined entities held 9.64 per cent holding in the bank which now stands at 6.89 per cent.

The scrip, which faced severe drubbing in the previous trade, jumped 8.21 per cent to Rs 58.60 on the BSE on Friday.

Wipro said it had bought back 32.3 crore equity shares under the c scheme at Rs 325 apiece.

Under Indian central bank rules, an individual shareholder cannot hold more than 15 per cent in a bank.