Velox Shipping and Logistics Limited has filed a regulatory disclosure pursuant to Regulation 30 of SEBI Listing Regulations regarding a strategic investment agreement. The company has signed an agreement to acquire 100% stake in Divinus Express Logistics Private Limited ("Divinus") following completion of procedural requirements.
Target Company Details
- Name: Divinus Express Logistics Private Limited
- Industry: Logistics
- Date of Incorporation: February 26, 2019
- Equity Capital: ₹7,50,000
- Country of Presence: India
Financial Performance of Divinus (Last 3 Years)
- 2024-25 Turnover: ₹15,12,37,538 (₹1,512.38 lakh)
- 2024-25 Profit: ₹29,85,590
- 2023-24 Turnover: ₹1,561.57 lakh
- 2022-23 Turnover: ₹1,219.68 lakh
Transaction Structure
- Acquisition Type: 100% stake purchase
- Initial Acquisition: Approximately 63% equity stake
- Remaining Acquisition: Approximately 37% equity stake to be completed over three years
- Final Completion Deadline: On or before December 2029
Transaction Characteristics
- Related Party Transaction: No
- Promoter/Group Interest: None
- Government/Regulatory Approvals Required: NIL
Strategic Rationale
The investment is a strategic initiative to expand operational capacity within the existing market and strengthen the company's overall market position. Divinus is engaged in freight contracting, shipping agency services, and other related freight and logistics activities.