Key Quantitative Figures
- Amount raised through preferential allotment: ₹7,62,50,000 (7.625 crore)
- Date of fund raising: August 26, 2022
- Amount utilized as of March 31, 2026: ₹94,33,000 (94.33 lakh)
- Amount utilized for acquisition/investment in foreign entity: ₹44,33,000
- Amount utilized for other inorganic acquisitions: ₹50,00,000
- Amount utilized for working capital requirements: ₹0
- Amount utilized for other general corporate purposes: ₹0
Dates of Action
- Fund raising date: August 26, 2022
- Shareholder approval date for change in objects: June 13, 2025 (via Postal Ballot)
- Remittance completion date for foreign investment: December 04, 2025
- Reporting quarter ended: March 31, 2026
- Disclosure date: May 30, 2026
Parties Involved
- Listed entity: Velox Shipping and Logistics Limited
- Regulatory authority: BSE Limited (Listing Compliance Department)
- Foreign investment entity: INTERNATIONAL LOGISTICS ASSOCIATES LLC "ILA"
Purpose and Rationale
The deviation/variation is pursuant to change in terms of contract or objects approved by shareholders. The company is looking to invest and expand its business through both organic and inorganic growth via roll-up acquisitions. The company believes the time is ripe for roll-up investments in other companies and firms, with returns on investment looking significantly good.
Financial Impact
Partial utilization of funds (₹94.33 lakh out of ₹7.625 crore) as of March 31, 2026. Specific utilization:
- ₹44,33,000 for acquisition/investment in INTERNATIONAL LOGISTICS ASSOCIATES LLC "ILA"
- ₹50,00,000 for other inorganic acquisitions if necessary
- No funds utilized for working capital requirements or other general corporate purposes
Monitoring and Review
- Monitoring Agency: Not Applicable
- Audit Committee Comments: Not applicable
- Auditor Comments: Not Applicable
Capital Structure Impact
No specific impact on capital structure disclosed in this filing.