Letter of Offer shared: buyback of up to 87,50,000 shares at ₹320 apiece
Buyback Letter of Offer shared.
By ScoutQuest · · 3 min read
- Buyback size
- Up to 87,50,000 shares, 5% of paid-up equity
- Buyback price
- ₹320 per share
- Total payout
- Up to ₹28,000 lakhs
Buyback through the tender offer route
VRL Logistics has shared its Letter of Offer dated October 24, 2026 for a buyback of up to 87,50,000 fully paid-up equity shares of face value ₹ 10 each, representing 5% of the equity shares in the existing total paid-up equity capital. The price is ₹ 320 per equity share, payable in cash, for an aggregate maximum amount of up to ₹ 28,000 lakhs, excluding transaction costs. It is conducted on a proportionate basis through the tender offer process.
Who is eligible and how much each can tender
- All equity shareholders as per the records made available to the company by the depositories on the record date, Thursday, October 22, 2026.
- Reserved category for small shareholders: 14 equity shares for every 99 equity shares held on the record date.
- General category for all other eligible shareholders: 19 equity shares for every 154 equity shares held on the record date.
- The update states these ratios are approximate. The actual entitlement factor is 14.1428922403203% for the small shareholder reserved category and 12.3393258021333% for the general category.
- A small shareholder is one holding equity shares of market value not more than ₹ 2,00,000, based on the closing price on the recognised stock exchange registering the highest trading volume on the record date.
- Promoters and the promoter group have declared their intention not to participate, so their shares are not considered while computing the entitlement ratio.
Size relative to the balance sheet
The buyback offer size works out to 24.51% of the aggregate of the total paid-up share capital and free reserves, based on the latest audited financial statements as at March 31, 2026. This is within the statutory limit of 25%.
Key dates to track
- Buyback window opens: Tuesday, October 27, 2026
- Buyback window closes: Monday, November 02, 2026; tender forms and documents must reach the registrar by 5:00 p.m. IST that day
- Registrar's verification completed by: November 03, 2026
- Acceptance/non-acceptance intimated to the stock exchange by: November 06, 2026
- Settlement of bids on the stock exchange: November 09, 2026
- Return of unaccepted shares and payment of consideration: November 09, 2026
- Extinguishment of the bought back shares: November 19, 2026
How tendering works
- Shares can be tendered only through a stock broker registered with BSE or NSE.
- A lien is marked by the broker in the demat account for the shares tendered, and the depositories pass this on to the clearing corporation.
- Shareholders holding shares in demat form do not need to submit the tender form and transaction registration slip to the registrar; those holding physical shares do.
- Brokerage, securities transaction tax, stamp duty and other charges are borne by the shareholder, not the company.
Points a retail holder may want to weigh
- Acceptance is on a proportionate basis, so the quantity accepted depends on how many shares are tendered in total, not just on what a single holder offers.
- Shareholders can check their entitlement on the registrar's website and in the pre-filled acceptance form.
- Because the promoters are not participating, the bought back shares being extinguished changes the proportion of the company held by the remaining shareholders.
- The update includes a note on taxation, which holders may want to read before tendering.
The broad perception
A cash buyback at a stated price, funded from reserves and followed by extinguishment of shares, is generally read as a return of capital to shareholders. The proportionate method means the outcome for each holder depends on overall participation, so the entitlement ratios are the number to follow.
Also from VRL Logistics
Board meeting on November 2, 2026 to approve reviewed un-audited results for quarter and half year ended September 30, 2026
24 Oct 2026
VRL Logistics down 5% despite announcing a buyback
22 Oct 2026
Buyback record date revised to October 22, 2026
15 Oct 2026
More numbers
- Maximum number of equity shares proposed to be bought back87,50,000
- Buyback price per equity share₹320/-
- Aggregate maximum buyback amount₹28,000 lakhs
- Shares to be bought back as share of paid-up equity capital5 %
- Buyback offer size as share of paid-up capital plus free reserves24.51%
- Entitlement factor, small shareholder reserved category14.1428922403203 %
- Entitlement factor, general category12.3393258021333%
- Market value limit for small shareholder classification₹ 2,00,000
Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.