Velox Shipping and Logistics Limited has made a regulatory disclosure regarding the conversion of convertible warrants into equity shares and subsequent allotment to non-promoter investors.

The Board of Directors allotted 30,54,531 equity shares of face value ₹10 each to three warrant holders upon conversion of an equal number of convertible warrants. This action was taken pursuant to shareholder approval obtained in the Extra-Ordinary General Meeting held on January 08, 2026, read with second corrigendum and addendum to the notice and explanatory statement dated December 17, 2025, and first corrigendum dated January 01, 2026.

The warrant holders paid 75% of the balance consideration amounting to ₹2,74,90,779 out of their total obligation and applied for conversion of their warrants into equity shares. The original warrants were allotted on a preferential basis to non-promoters on May 16, 2026.

Allotment Details:

  • Manvi Bharat Poojary: Allotted 18,00,000 equity shares against 9,00,000 warrants, paying ₹81,00,000
  • Amit Arora: Allotted 3,07,524 equity shares against 7,00,000 warrants, paying ₹63,00,000
  • Ravishankar Sarvothaman: Allotted 9,71,775 equity shares against 14,54,531 warrants, paying ₹1,30,90,779
  • Total: 30,54,531 equity shares allotted for ₹2,74,90,779

The amount representing 25% of total consideration payable for these warrants (₹91,63,593) was received by the Company at the time of original warrant allotment on May 16, 2026.

Financial and Capital Structure Impact:

  • Issue Price: ₹12 per warrant (₹10 face value + ₹2 premium)
  • Subscription Price: ₹3 per warrant (25% of Issue Price paid initially)
  • Conversion Price: ₹9 per warrant (75% of Issue Price paid upon conversion)
  • Post-allotment paid-up share capital increased to ₹26,09,63,260
  • Total number of equity shares: 2,60,96,326 equity shares of ₹10 face value each
  • The newly allotted shares will rank pari passu with existing equity shares in all respects, subject to lock-in period restrictions as per SEBI ICDR Regulations

The warrants were eligible for conversion for a period of 18 months from the date of allotment (May 16, 2026). The allotment was made in dematerialized form.

The disclosure is made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated January 30, 2026.

The Board meeting for this allotment started at 08:00 PM and concluded at 08:30 PM on November 7, 2026. The disclosure was signed by Sushil Sindhkar, Director (DIN: 10191316).