# Transport Corporation buyback approved: From price per share to record date - what investors need to know — retained record
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source: [news](https://highsignal.app/data/news) (news:india-mint-markets) published 2026-09-29 15:13 ingested 2026-09-30 03:02
[original source ↗](https://www.livemint.com/market/stock-market-news/transport-corporation-buyback-approved-from-price-per-share-to-record-date-what-investors-need-to-know-11790694100269.html)
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Transport Corporation of India, on Tuesday, 29 September, announced that its board of directors had considered and approved a proposal for the buyback of equity shares.
The company's board approved its first-ever buyback of up to 1.56 million fully paid-up equity shares with a face value of ₹2 each, representing up to 2.03% of the total number of equity shares in the paid-up equity share capital of the company, at a price of ₹960 per share.
The buyback price represents a 10.6% premium over the stock's Tuesday closing price of ₹868 apiece.
The buyback, payable in cash, will aggregate to an amount not exceeding ₹150 crore. The buyback size represents 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, the filing showed.
It represents 4.07% based on the company's consolidated financial statements for the year ended 31 March 2026. The buyback will be carried out on a proportionate basis through the tender offer route using the stock exchange mechanism.
The logistics company has fixed Friday, 9 October 2026, as the record date for determining shareholders' eligibility and entitlement to participate in the buyback. The company said its promoters and members of the promoter group have indicated their intention not to participate in the buyback.
In the same filing, the company said that its Board of Directors has approved the incorporation of a Wholly Owned Subsidiary (WOS) in the People's Republic of China.
The company said the proposed WOS, upon incorporation, will be a wholly owned subsidiary of the company, which will be its holding company.
The proposed entity is intended to support the company's international logistics network and develop an integrated India–China–Far East logistics corridor, with an initial focus on establishing operations in one of the Free Trade Zones (FTZ) of Shanghai or Shenzhen.
According to the company, the overall financial commitment of the company in relation to the proposed WOS is up to USD 2 million (two million United States dollars only) or its equivalent in any other freely convertible foreign currency, which may be made in one or more tranches depending upon business requirements and in accordance with applicable laws.
The company further said that upon incorporation, the proposed entity will be a wholly owned subsidiary of the company, and accordingly, the company will hold 100% of the equity share capital and control of the proposed entity.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
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