Velox Amends Agreement for 33.56% Stake in Divinus Express Logistics

Velox Shipping and Logistics Ltd has signed an amendment agreement to its investment in Divinus Express Logistics Private Limited. The company is acquiring approximately 33.56% stake in Divinus Express Logistics for an aggregate consideration of approximately ₹5,00,00,000. Divinus Express Logistics, incorporated in 2019, operates in freight contracting, shipping agency services, and other logistics activities, with a turnover of ₹15.12 crore and profit of ₹29.85 lakh for 2024-25. This strategic investment aims to expand Velox's operational capacity and strengthen its market position. Additionally, Velox's 98% owned subsidiary, M/s. Anchorage Shipping, will acquire approximately 46.99% stake for ₹7,00,00,000. In total, Velox and its subsidiary will acquire approximately 80.56% stake, with plans to purchase the remaining 19.44% over three years. The transaction is a cash consideration and is not a related party transaction.