Rain Commodities Ltd has informed the Indian Stock Market that the Board of Directors of the Company at its meeting held on September 01, 2008,has approved Buy back of the Company's fully paid-up equity shares of Rs 10/- each, from open market through the Stock Exchange mechanism, at prevailing market price on the Stock Exchanges but subject to a price not exceeding Rs 307/- per equity share and subject to a maximum of 12,00,000 equity shares.