TCI Express sees two independent directors step down after second term

TCI Express announced that Mr. Murali Krishna Chevuturi and Mr. Prashant Jain have ceased to hold office as independent directors on August 17, 2026. The departure follows the completion of their respective second terms in accordance with regulatory requirements.

Both directors also relinquished their positions as chairman or members of various committees of the Board of Directors effective close of business hours on August 17, 2026. The Board expressed appreciation for their guidance and contributions during their tenures.

Regulatory Disclosure

The company made the disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing references SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Particulars	Mr. Murali Krishna Chevuturi	Mr. Prashant Jain
DIN	01770851	00769291
Reason for change	Cessation upon completion of second term	Cessation upon completion of second term
Effective date	August 17, 2026	August 17, 2026

The information was filed with both BSE Limited and National Stock Exchange of India Ltd. and is hosted on the company website.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.23%	+2.19%	+2.17%	+1.51%	-15.91%	-57.70%

TCI Trading (Dharmpal Agarwal) disposed of 46,000 equity shares of TCI Express to TCI Express Consolidated Limited through an inter-se transfer executed via the open market. The transactions were completed on August 11 and August 12, 2026, as disclosed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The restructuring within the promoter group resulted in a shift in shareholding percentages without altering the company's total equity capital. TCI Trading's stake decreased from 6.15% to 6.03%, while TCI Express Consolidated Limited's holding rose from 44.72% to 44.84%.

Transaction Details

Both entities are part of the promoter group of TCI Express Limited. The disclosures were signed by Ramesh Chand Pahuja, authorised signatory, on behalf of both parties.

Entity	Action	Shares Transferred	Pre-Transaction Holding	Post-Transaction Holding
TCI Trading (Dharmpal Agarwal)	Disposal	46,000 (0.12%)	23,63,597 (6.15%)	23,17,597 (6.03%)
TCI Express Consolidated Limited	Acquisition	46,000 (0.12%)	1,71,82,133 (44.72%)	1,72,28,133 (44.84%)

Capital Structure

The total equity share capital of TCI Express Limited remains at ₹7,68,37,980, divided into 3,84,18,990 equity shares of ₹2.00 each. There were no changes to the total diluted share or voting capital following the transfer. No warrants, convertible securities, or other instruments entitling holders to receive shares carrying voting rights were involved in the transaction.