Transport Corporation of India has approved its first-ever share buyback, offering to repurchase up to 15.62 lakh shares at Rs 960 apiece through the tender offer route. The buyback, cleared by the board on September 29, is capped at Rs 150 crore.

The buyback price represents a 10.6 percent premium over the stock’s closing price of Rs 868 on Tuesday. It covers 2.03 percent of the company’s paid-up equity capital. The board has fixed Friday, October 9, 2026, as the record date for shareholder eligibility. Promoters and the promoter group have said they will not participate.

The move follows a 14 percent surge in TCI shares on September 25, their biggest single-day gain since October 2021, as the market anticipated the buyback details.

In the same meeting, the board approved the incorporation of a wholly owned subsidiary in China with an investment of up to $2 million, to build an integrated India-China-Far East logistics corridor.

TCI reported consolidated revenue of Rs 1,254.80 crore and profit after tax of Rs 106.60 crore for the first quarter of FY27, and is targeting 10-12 percent revenue growth for the year.