14-Aug-2026      23:00

Velox Shipping plans expansion via acquisitions and International Logistics Associates LLC

Velox Shipping and Logistics Limited, formerly Velox Industries Limited, disclosed a partial deviation in the utilization of funds raised through a preferential allotment of Rs 76,25,00,000, as well as funds raised through a private placement of convertible warrants totaling Rs 8,49,99,999 and warrants converted into equity shares amounting to Rs 2,13,38,160, all as of June 30, 2026. The company intends to invest and expand its business through organic growth, inorganic acquisitions, and investments in entities like International Logistics Associates LLC, with shareholder approval received on June 13, 2025.

News source: Capital Market - Live News