Corporate Action18 Jun 2026, 03:25 pm
Velox Shipping Allots 17.78 Lakh Shares on Warrant Conversion
AI Summary
Velox Shipping and Logistics Ltd announced the allotment of 17,78,180 equity shares following the conversion of warrants. The warrant holders exercised their rights after paying Rs. 1,60,03,876, which represents 75% of the balance consideration. These shares, with a face value of Rs. 10 each, were allotted at a premium of Rs. 12 each. The newly issued shares will rank pari passu with the existing equity shares of the company. This conversion is a result of preferential allotment approved by shareholders in January 2026.
Key Highlights
- 17,78,180 equity shares allotted upon warrant conversion.
- Warrant holders paid Rs. 1.60 crore for conversion.
- Shares allotted at Rs. 10 face value with Rs. 12 premium.
- New shares rank pari passu with existing equity.
- Conversion follows preferential allotment approved in Jan 2026.
Price Impact
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