The maximum output voltage of the bridge rectifier is expressible as V_out = V_line(RMS)x√2, while the average output DC voltage follows the formula: V_out = V_line(RMS)x3√2/π. Here the maximum phase voltage is set to 339V (or 240V RMS) making the line voltage 587V (maximum) which is almost the same as the the maximum DC voltage at the output.
Stay tuned for more updates.
Update #1: DC Link Capacitor is now 2.2mF