Transport Corporation Of India Approves ₹150 Crore Buyback At ₹960 Per Share

Board approved buyback of up to 15.6L shares at Rs960 for up to Rs150Cr via tender offer, record date Oct9; promoters to not participate. Approved China WOS up to $2M. First buyback in record; tender excluding promoters will lift promoter holding. China WOS extends international network into India-China-Far East corridor via Shanghai/Shenzhen FTZ. Buyback is accretive with no dilution and limited leverage strain. Offer timelines await public announcement and letter of offer. China unit needs cross-border approvals; funding in tranches.