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Transport Corporation of India approves first share buyback at ₹960
The company will repurchase up to 15.62 lakh equity shares for up to ₹150 crore in cash, pricing the offer at a 10.6% premium to the prior close.
Transport Corporation of India said its board has approved the company’s first-ever equity share buyback, for up to 1.56 million fully paid-up shares with a face value of ₹2 each. The buyback size equals up to 2.03% of the company’s total paid-up equity share capital, and will be conducted on a proportionate basis, LiveMint Markets reported.
The buyback will be carried out at ₹960 per share in cash. That price is a 10.6% premium to the stock’s Tuesday closing price of ₹868, and the total buyback amount will not exceed ₹150 crore.
The filing also showed the buyback size corresponds to 6.76% and 6.15% of the aggregate of the company’s fully paid-up equity share capital and free reserves, based on its latest audited standalone financial statements for FY26. It represents 4.07% based on the company’s consolidated financial statements for the year ended March 31, 2026, according to LiveMint Markets.