TCI approves ₹150 crore tender-offer buyback at ₹960 per share
As filed · Transport Corporation of India Limited has informed the Exchange regarding 'Submission of Board Resolution for Buyback of fully paid-equity shares'.
Special SituationImprovingNotablemateriality 66 out of 100
What happened
FactTransport Corporation of India’s board approved a buyback of up to 1,562,500 fully paid equity shares through a proportionate tender offer. The buyback will be at ₹960 per share for an aggregate amount not exceeding ₹1,500,000,000, excluding transaction costs, and promoters and promoter-group members are excluded.
Why it matters
CapitSignal interpretationA buyback returns cash by retiring shares, so the benefit to a holder depends on the price paid, how many of their shares are accepted, and what the stub is worth afterwards.
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Fact- Record date and acceptance ratio
- Promoter participation
- Cash left on the balance sheet afterwards
Evidence
How CapitSignal classified this
- Reasoning:
- The tender offer returns up to ₹150 crore of cash to eligible non-promoter shareholders and could reduce the outstanding share count by up to 2.03%. Participation and final acceptance will depend on the tender process.
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%