Bhoruka Supply Chain Solutions Holdings Limited, part of the promoter group of Transport Corporation of India Limited, has acquired 3,390 equity shares of the logistics company through open market purchase. The transaction was completed on December 17, 2025, with the formal regulatory disclosure filed on December 22, 2025.

Transaction Details

The acquisition represents a minor increase in the promoter group's shareholding in the logistics major. The following table summarizes the key transaction parameters:

Shareholding Pattern Changes

The acquisition resulted in a marginal change in the promoter group's stake in Transport Corporation of India. The shareholding details before and after the transaction are presented below:

Company Capital Structure

Transport Corporation of India's equity share capital remains unchanged following this transaction. The company's capital structure details include:

Regulatory Compliance

The disclosure was made in compliance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The formal disclosure document was signed by Sudhir Kumar Agarwal, Director of Bhoruka Supply Chain Solutions Holdings Limited, and filed with BSE Limited and National Stock Exchange of India Limited on December 22, 2025.

Bhoruka Supply Chain Solutions Holdings Limited is registered at DPT 625/626, DLF Prime Tower, Okhla, Phase-I, New Delhi-110020, with its corporate office located at Plot No. 69, TCI House, Institutional Area, Sector-32, Gurugram-122001. The transaction represents routine promoter group activity with minimal impact on the overall shareholding structure of the logistics company.

Transport Corporation of India Limited (TCI) has received a vote of confidence from ICRA Limited, which reaffirmed the company's credit rating for long-term fund-based term loans. Simultaneously, TCI has opted to withdraw its Commercial Paper rating, signaling a shift in its financial strategy.

Credit Rating Reaffirmation

ICRA Limited has reaffirmed Transport Corporation of India's credit rating for long-term fund-based term loans at [ICRA]AA with a Stable outlook. This rating applies to facilities totaling Rs. 200 crore, broken down as follows:

The [ICRA]AA rating indicates a high degree of safety regarding timely servicing of financial obligations, suggesting that TCI carries very low credit risk.

Commercial Paper Rating Withdrawal

In a strategic move, Transport Corporation of India requested ICRA to withdraw the credit rating for its Commercial Paper (CP) issuance. The details are as follows:

The [ICRA]A1+ rating, which was reaffirmed before withdrawal, signifies the highest level of safety for timely payment of short-term debt obligations.

Implications and Outlook

The reaffirmation of TCI's long-term credit rating at [ICRA]AA (Stable) reflects the company's strong financial position and its ability to meet its financial commitments. This rating could potentially help TCI in securing favorable terms for future borrowings and enhance its credibility with stakeholders.

The withdrawal of the Commercial Paper rating, initiated at TCI's request, may indicate a shift in the company's short-term financing strategy. It's possible that TCI is exploring alternative funding sources or adjusting its capital structure to align with its current business needs.

Investors and stakeholders should note that these ratings will be due for surveillance within one year from the rating communication date. As always, market participants are advised to conduct their own analysis and due diligence when making investment decisions.

Transport Corporation of India Limited continues to demonstrate financial stability, as reflected in these recent rating actions. The company's proactive approach to managing its credit ratings suggests a strategic focus on optimizing its financial structure in the evolving market landscape.