Transport Corporation of India has approved a share buyback worth Rs 150 crore, the logistics company said. The board cleared the proposal at its meeting this week.

The company will buy back up to 15,62,500 shares at Rs 960 per share. The record date for the buyback has been fixed as October 9, 2026.

Promoters of the company will not take part in the buyback, the announcement said. A buyback usually signals that a company believes its shares are undervalued and has surplus cash.

Transport Corporation of India is one of India’s largest logistics and supply chain companies, with operations across freight, warehousing and cold chain segments.

The buyback price is at a premium to recent market levels, which investors will watch closely. Shareholders eligible on the record date can tender their shares in the offer. The Rs 960 buyback price will apply to every share tendered and accepted in the offer, the board said.