Tender Offer | ₹0.00 Crores | Listed at BSE, NSE | Tue, Sep 10, 2024 - Tue, Sep 17, 2024
Transport Corporation Of India Ltd. Buyback is a tender offer for the repurchase of up to 0.13 crore equity shares, representing 1.72% of the total paid-up equity share capital at a buyback price of ₹1200 per share with a face value of ₹2 per share, aggregating to ₹0.00 crores.
The record date for determining eligible shareholders is Sep 4, 2024. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Sep 10, 2024 and closes on Sep 17, 2024, with the last date for receipt of tender forms being Sep 17, 2024.
The finalisation of buyback acceptance is expected on Sep 23, 2024, followed by settlement of bids on Sep 24, 2024.
Ambit Pvt.Ltd. is the Manager to the Buyback and Kfin Technologies Ltd. is the Registrar and Ambit Capital Pvt Ltd is the Registered Broker to the Buyback.
Investors are advised to refer to the Transport Corporation Of India Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Tue, Sep 10, 2024
Offer Closing Date
Tue, Sep 17, 2024
Buyback Price
₹1200 per share
Record Date
September 4, 2024
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 9 Equity Shares out of every 71 Fully paid-up Equity Shares held on the Record Date. | 2,00,000 |
| General Category for all other Eligible Shareholders | 12 Equity Shares out of every 763 Fully paid-up Equity Shares held on the Record Date. | 11,33,333 |
Transport Corporation Of India Ltd.'s revenue increased by 6% and profit after tax (PAT) dropped by -7% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | |||||||||||||||||||||||||||
| Assets | ||||||||||||||||||||||||||||||
| Revenue | 3,713.47 | 3,492.49 | 2,935.7 | |||||||||||||||||||||||||||
| Profit After Tax | 303.51 | 327.91 | 267.43 | |||||||||||||||||||||||||||
| Net Worth | 1,755.75 | 1,491.09 | 1,231.55 | |||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||
Founded in 1995, Transport Corporation of India Limited (TCI), formerly known as TCI Industries Limited, offers multimodal solutions tailored to the needs of logistics.
The company's list of services includes:
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2024 | 1,042.15 | 905.90 | 956.91 |
| Jun-2024 | 931.55 | 798.30 | 900.12 |
| May-2024 | 957.95 | 831.70 | 885.65 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2024 | 1,038.00 | 904.05 | 957.75 |
| Jun-2024 | 932.95 | 798.25 | 901.10 |
| May-2024 | 951.10 | 831.05 | 886.33 |
The Buyback is being undertaken for the following reasons:
Transport Corporation Of India Ltd.
69, Institutional Area,
Sector-32,
Gurgaon - 122001
Gurugram, Haryana, 122001
Lead Manager(s)
Registered Broker
The Transport Corporation Of India Buyback 2024 opens on September 10, 2024, and closes on September 17, 2024.
Last date to be eligible to participate in buyback is September 3, 2024.
The Transport Corporation Of India Buyback 2024 is a Tender Offer.
Transport Corporation Of India Buyback 2024 Schedule
| Buyback Opening Date | September 10, 2024 |
| Buyback Closing Date | September 17, 2024 |
| Last Date for receipt of Tender Forms | September 17, 2024 |
| Finalisation of Buyback Acceptance | September 23, 2024 |
| Last Date for settlment of bids | September 24, 2024 |
| Last Date for Extinguishment of Shares | October 4, 2024 |
The Transport Corporation Of India Buyback 2024 is being offered at Rs ₹1200 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 9 Equity Shares out of every 71 Fully paid-up Equity Shares held on the Record Date. | 2,00,000 |
| General Category for all other Eligible Shareholders | 12 Equity Shares out of every 763 Fully paid-up Equity Shares held on the Record Date. | 11,33,333 |
The issue size of Transport Corporation Of India Buyback 2024 is 13,33,333 equity shares at ₹1200 per share aggregating up to ₹0.00 Crores.
The Buyback is being undertaken for the following reasons:
All the eligible Shareholders of the Company holding either Physical Shares or Demat Shares as on the Record Date can participate in the buyback offer through their Stock Broker.
The eligible shareholder holding the shares in Demat form needs to inform their broker the details of the Equity shares they wish to tender in the Buyback Offer. The shareholder needs to transfer the tendered shares to a Special account of the clearing corporation. The broker, in turn, would place an order on the stock exchange for the buyback.
The eligible shareholder holding the shares in physical form needs to approach their broker with original share certificates and supporting documents. Upon completion of document verification, the broker places an order on the stock exchange and submits the original share certificate and TRS to the registrar.
The tender form and TRS are optional in the case of Demat shares but mandatory in the case of physical shares.
The Transport Corporation Of India Buyback 2024 offers an opportunity for the shareholders to exit their positions at a premium price. In case you stay invested you would have an increased percentage of shareholding in the company and improved earnings per share. Thus, one should understand the company fundamentals along with one's need, goals, and risk appetite to decide if one wants to stay invested or participate in the buyback offer.
