Transport Corporation of India informed that its board approved share buyback of up to Rs 160 crore at a price of Rs 1,200 per equity share.
The buyback price fixed at Rs 1,200 per equity share, representing a 4.86% premium to Fridays closing price of Rs 1,144.40 on the BSE.The company will buyback up to 13.33 lakh fully paid-up equity shares, representing upto 1.72% of the total paid-up equity shares of the company.
The buyback offer size represents 9.11% and 8.24% of the aggregate of the total paid-up equity share capital and free reserves of the company based on the latest audited standalone and consolidated financial statements of the company as on 31 March 2024, respectively.
The company has fixed 4 September 2024 as the record date for the purpose of determining the entitlement and the names of equity shareholders who would be eligible to participate in the buyback.
Transport Corporation of India is Indias leading end to end integrated supply chain and logistics solutions provider (LSP) and a pioneer in the sphere of cargo transportation in India.
The kitchen appliances manufacturer reported 10.6% rise in consolidated net profit to Rs 91 crore on 10% increase in revenue from operations to Rs 1,045.10 crore in Q1 FY25 over Q1 FY24.
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