Velox Industries Ltd

Velox Shipping and Logistics Ltd has announced the closure of its trading window for all designated persons. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's internal code of conduct. The trading window will be shut from July 01, 2026, and will reopen 48 hours after the declaration of the Unaudited Financial Results for the quarter ended June 30, 2026. This measure is standard practice to prevent insider trading during periods when sensitive financial information is being prepared and finalized.

Velox Shipping and Logistics Ltd has entered into an agreement to strategically invest in Seaman Logistics Solution Pvt. Ltd., acquiring 100% stake. The initial acquisition will be for 57% of the equity value for INR 11 Crore, with the remaining 43% to be acquired over three years, by December 2029. This move aims to expand operational capacity and strengthen the company's market position in the logistics sector. Seaman Logistics reported a turnover of Rs. 50.88 Crore and a profit of Rs. 1.20 Crore for FY25. The transaction is a cash-based deal and is not a related party transaction.

Velox Shipping and Logistics Ltd has signed an agreement to strategically invest in Divinus Express Logistics Private Limited, with plans to acquire a 100% stake. The initial acquisition will be for 63% of the equity for INR 5 Crore, with the remaining 37% to be acquired over three years, by December 2029. This move is aimed at expanding operational capacity and strengthening the company's market position within the logistics sector. Divinus Express Logistics reported a turnover of Rs. 15.12 Crore and a profit of Rs. 29.85 Lakhs for FY25.

Velox Shipping and Logistics Ltd announced the allotment of 17,78,180 equity shares following the conversion of warrants. The warrant holders paid Rs. 1,60,03,876, representing 75% of the balance consideration, to exercise their rights. 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 existing equity shares. This conversion follows an EGM approval on January 8, 2026, and preferential allotment of warrants on May 16, 2026, to non-promoters.

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.

Velox Shipping and Logistics Ltd has announced a Board of Directors meeting scheduled for June 18, 2026. The primary agenda item is the approval for the preferential allotment of 17,78,180 equity shares to non-promoter category allottees. This allotment has already received approval from the company's shareholders and the stock exchange. The meeting will also address any other necessary business matters.

Velox Shipping and Logistics Ltd clarifies that Regulation 23(9) of SEBI (Listing Obligation and Disclosure Requirements) Regulation 2015, concerning related party transactions, is not applicable to the company. The company claims exemption under Regulation 15(2) as its paid-up equity share capital and net worth as of March 31, 2026, are below the specified limits of ₹10 Crores and ₹25 Crores, respectively. The paid-up capital was ₹797.40 Lakhs and net worth was ₹831.25 Lakhs.

Velox Shipping and Logistics Ltd reported a deviation in the use of proceeds from a preferential allotment of ₹7,62,50,000. The funds, raised on August 26, 2022, were intended for company growth, acquisitions, and working capital but have been partially utilized with deviations. Shareholders approved the changes on June 13, 2025. The company is pursuing inorganic acquisitions and investments, expecting good returns. The audit committee and auditors have no specific comments.

Velox Shipping and Logistics Ltd. has announced its standalone and consolidated audited financial results for the quarter and year ended March 31, 2026. The Board of Directors approved the results in a meeting held on May 29, 2026, based on the Audit Committee's recommendation. The Statutory Auditors, M/s. Bilimoria Mehta & Co., Chartered Accountants, issued an audit report with an unmodified opinion on the financial results.

Velox Shipping and Logistics Ltd's Board of Directors approved and took on record the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, in its meeting held on May 29, 2026. The statutory auditors, M/s. Bilimoria Mehta & Co., issued audit reports with an unmodified opinion on the audited financial results. The meeting commenced at 09:30 PM and concluded at 10:30 PM.