Corporate Action15 Oct 2026, 01:27 pm
Velox Shipping Allots 56.31 Lakh Equity Shares from Warrants
AI Summary
Velox Shipping and Logistics Ltd's Board of Directors, in a meeting held on October 15, 2026, allotted 56,31,107 equity shares of face value ₹10 each. These shares were issued to Non-Promoter warrant holders upon conversion of an equal number of warrants. The warrant holders paid the remaining 75% of the consideration, amounting to ₹5,06,79,963 (₹5.07 Crore), to exercise their conversion rights. The original warrants were allotted on a preferential basis on May 16, 2026. The newly allotted equity shares, issued at a premium of ₹2 each, will rank pari passu with the company's existing equity shares.
Key Highlights
- Velox Shipping allotted 56.31 lakh equity shares on October 15, 2026.
- Shares issued upon conversion of warrants held by Non-Promoters.
- Company received ₹5.07 Crore as final consideration for warrant conversion.
- New equity shares rank equally with existing shares of the company.
Price Impact
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