Velox Shipping and Logistics has accepted the resignation of Ms. Pinal R. Parekh from her positions as Company Secretary, Compliance Officer, and Key Managerial Person (KMP). The resignation becomes effective on August 15, 2026, following a tender letter dated August 04, 2026. The departure creates an immediate vacancy in a critical governance role, prompting the company to initiate a search for a successor to ensure continued regulatory compliance.

Ms. Parekh cited pre-occupancy and better prospects as the reasons for her exit. In her resignation letter addressed to the Board of Directors, she requested that the company intimate the stock exchanges under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. She also directed the filing of necessary e-forms, including DIR-12, with the Registrar of Companies (ROC).

The intimation to the Bombay Stock Exchange (BSE) was submitted by Debashis Mukherjee, Managing Director, on August 05, 2026. The filing confirms that Ms. Parekh will be relieved of her responsibilities with effect from August 15, 2026. The company stated it is in the process of identifying and hiring a suitable candidate for the said position and will inform the stock exchanges once the vacancy is filled.

The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI (LODR) Regulations, 2015. The filing references Master Circular No. HO/49/14/14(7) 2025-CFDPOD2/ I/3762/2026 dated January 30, 2026, regarding the disclosure requirements for changes in key managerial personnel.

Resignation Details

Governance Implications

The departure of a Company Secretary and Compliance Officer requires immediate attention to ensure continuity in regulatory filings and corporate governance matters. Velox Shipping and Logistics Limited, formerly known as Velox Industries Limited, has acknowledged the vacancy and committed to updating the exchanges upon appointment of a new candidate. The transition period between August 15, 2026, and the appointment of a successor may require interim arrangements for compliance duties, though no specific interim measures were disclosed in the filing.

Velox Shipping and Logistics has executed an addendum to its June 24, 2026 agreement to acquire an approximate 33.56% stake in Divinus Express Logistics Private Limited for ₹5,00,00,000. The transaction, disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, aims to expand operational capacity within the existing logistics market and strengthen the company’s overall market position. This strategic investment marks a significant step in consolidating control over the freight contracting and shipping agency services provider.

The acquisition involves the purchase of 1,29,534 shares in Divinus Express Logistics Private Limited (Divinus), which was incorporated on February 26, 2019. The deal is structured as a cash transaction and does not constitute a related party transaction, nor does it require any governmental or regulatory approvals. The Board of Directors approved the move as part of its strategy to reinforce market presence through vertical integration in the logistics sector.

Financial Profile of Target Entity

Divinus Express Logistics operates primarily in India, offering freight contracting, shipping agency services, and related logistics activities. The target entity reported a turnover of ₹15,12,37,538 and a profit of ₹29,85,590 for the fiscal year 2024-25. Its equity capital stands at ₹7,50,000. The financial performance over the last three fiscal years indicates stable revenue generation despite minor fluctuations.

Note: Turnover figures for 2022-23 and 2023-24 are derived from lakh values provided in the source (Rs.1,219.68 Lakhs and Rs.1,561.57 Lakhs respectively).

Consolidated Control Strategy

The acquisition by Velox Shipping is part of a larger consolidation plan involving its wholly-owned subsidiary, Anchorage Shipping. Anchorage Shipping, in which Velox holds a 98% stake, has decided to invest ₹7,00,00,000 to acquire 1,81,347 shares, representing an approximate 46.99% stake in Divinus. In aggregate, Velox Shipping and Anchorage Shipping will purchase approximately 80.56% of the equity capital of the investee company.

The company intends to acquire the remaining 19.44% stake in Divinus over a period of three years through primary or secondary investment options. This phased approach allows for gradual integration while securing majority control immediately upon completion of the current transactions. The combined investment underscores a long-term commitment to expanding logistics infrastructure and service capabilities within the Indian market.