Corporate Action17 Aug 2026, 03:32 pm
Velox Shipping Allots 76.58 Lakh Shares on Warrant Conversion
AI Summary
Velox Shipping and Logistics Ltd has allotted 76,58,508 equity shares following the conversion of warrants. The warrant holders paid Rs. 6,89,26,572, representing 75% of the total consideration, to exercise their rights. These shares were allotted on a preferential basis to non-promoters. The new equity shares will rank pari passu with existing shares, subject to lock-in periods. The allotment follows shareholder approval from January 8, 2026, and prior warrant allotment on May 16, 2026.
Key Highlights
- 76,58,508 equity shares allotted upon warrant conversion.
- Rs. 6.89 Cr received as part of warrant consideration.
- Shares allotted to non-promoters on preferential basis.
- New shares rank pari passu with existing equity.
- Allotment follows EGM approval and prior warrant issuance.
Price Impact
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