Velox Shipping Reports Deviation in Fund Utilization

Velox Shipping and Logistics Ltd has reported a partial deviation in the utilization of funds raised through a preferential allotment. The company raised ₹7,62,50,000 for growth capital, including investment in 'International Logistics Associates LLC'. While the original object was for capital expenditure, acquisitions, and working capital, a portion of the funds allocated for acquisition was not utilized as planned in the quarter ended June 30, 2026. The company plans to invest and expand its business through organic and inorganic growth, including roll-up acquisitions. Funds raised via private placement and warrant conversion remain unutilized.