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What is the story about?
Transport Corporation of India (TCI)
has approved a share buyback of up to 1.56 million shares, or 2.03% of its paid-up equity share capital, at ₹960 per share through the tender offer route.
The total buyback size has been capped at ₹150 crore, excluding transaction costs, taxes and other expenses. The buyback will be open to eligible shareholders on a proportionate basis, while promoters and members of the promoter group will be excluded from the offer.
The company has fixed October 9, 2026 as the record date to determine shareholder eligibility. TCI said its promoters and promoter group have also expressed their intention not to participate in the buyback.
The board has constituted a buyback committee to oversee the process. It can also increase the buyback price and correspondingly reduce the number of shares to be bought back, provided the overall buyback size remains unchanged.
The move comes days after TCI shares surged 14% on September 25, their biggest single-day gain since October 2021, ahead of the board meeting. At the time, the market was awaiting details on the potential size and price of the buyback.
TCI's net worth stood at around ₹2,556 crore as of March 2026, while the company had ₹317 crore in cash and current financial assets. Based on its financial position, the earlier discussion had centred on the possibility of a buyback of up to 10% of net worth, although the eventual proposal approved by the board is significantly more targeted at ₹150 crore.
Following its Q1 results, TCI had told CNBC-TV18 that it was targeting 10–12% revenue growth in FY27.
Separately, the board has also approved the incorporation of a wholly owned subsidiary in China, with an initial financial commitment of up to $2 million. The proposed entity will undertake logistics and supply-chain activities and is intended to support an integrated India-China-Far East logistics corridor, with operations initially proposed in a Shanghai or Shenzhen free trade zone.
The public announcement and letter of offer, containing the detailed process and timelines for the buyback, will be issued in due course.
The total buyback size has been capped at ₹150 crore, excluding transaction costs, taxes and other expenses. The buyback will be open to eligible shareholders on a proportionate basis, while promoters and members of the promoter group will be excluded from the offer.
The company has fixed October 9, 2026 as the record date to determine shareholder eligibility. TCI said its promoters and promoter group have also expressed their intention not to participate in the buyback.
The board has constituted a buyback committee to oversee the process. It can also increase the buyback price and correspondingly reduce the number of shares to be bought back, provided the overall buyback size remains unchanged.
The move comes days after TCI shares surged 14% on September 25, their biggest single-day gain since October 2021, ahead of the board meeting. At the time, the market was awaiting details on the potential size and price of the buyback.
TCI's net worth stood at around ₹2,556 crore as of March 2026, while the company had ₹317 crore in cash and current financial assets. Based on its financial position, the earlier discussion had centred on the possibility of a buyback of up to 10% of net worth, although the eventual proposal approved by the board is significantly more targeted at ₹150 crore.
Following its Q1 results, TCI had told CNBC-TV18 that it was targeting 10–12% revenue growth in FY27.
Separately, the board has also approved the incorporation of a wholly owned subsidiary in China, with an initial financial commitment of up to $2 million. The proposed entity will undertake logistics and supply-chain activities and is intended to support an integrated India-China-Far East logistics corridor, with operations initially proposed in a Shanghai or Shenzhen free trade zone.
The public announcement and letter of offer, containing the detailed process and timelines for the buyback, will be issued in due course.
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