TCI Express Limited (NSEI:TCIEXP) announces a share repurchase program. Under the program, the company will repurchase up to INR 750 million. The maximum price paid by the shareholders would not exceed INR 2,050 per share.

The purpose of the plan is to return surplus cash to its members. The program will be funded out of free reserves or such other sources as may be permitted by SEBI Buyback Resolutions or the Companies Act. The program is subject to shareholder approval by way of a special resolution and is also subject to all the other statutory approvals.

The plan will be valid till February 13, 2023. As of March 30, 2022, the company had 38,495,125 issued and outstanding shares.