Velox Shipping and Logistics Limited (formerly Velox Industries Limited) has informed the stock exchange of a scheduled board meeting on Saturday, May 16, 2026, pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting has been convened, among other matters, to consider the allotment of fully convertible share warrants on a preferential basis to non-promoter category allottees, as previously approved by shareholders and the stock exchange.

Warrant Allotment Details

The board is set to deliberate on the allotment of 2,83,33,333 (two crore eighty three lakh thirty three thousand three hundred and thirty three) Fully Convertible Warrants. The key terms of the proposed allotment are outlined below:

Regulatory Compliance

The intimation was filed by Pinal Parekh, Company Secretary and Compliance Officer of Velox Shipping and Logistics Limited, from Mumbai, dated May 13, 2026. The allotment is being undertaken on a preferential basis, with the warrant subscription price set at Rs. 3/- per warrant, representing 25% of the issue price of Rs. 12/- per warrant. The total amount aggregating Rs. 8,49,99,999/- is to be received upon allotment, in accordance with the approvals granted by shareholders and the stock exchange.

The company, registered under CIN L52242MH1983PLC029364 and headquartered at 902 Filix Commercial Complex, Bhandup, Mumbai, has requested the Listing Compliance Department of BSE Limited to take the intimation on record.

Velox Shipping and Logistics Limited has officially notified BSE Limited that it does not meet the criteria to be classified as a Large Corporate under SEBI's debt securities framework for the financial year ended March 31, 2026. The velox shipping and logistics communication was filed on April 13, 2026, pursuant to SEBI Circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018.

Regulatory Compliance Status

The company confirmed that it does not fall under the Large Corporate classification as per clause 2.2 of the SEBI circular regarding fundraising through debt securities. Consequently, Velox Shipping and Logistics Limited is exempt from filing initial disclosure and annual disclosure requirements specified in Annexures A, B1, and B2 of the aforementioned circular.

Financial Position Details

The company's financial metrics as of March 31, 2026, demonstrate its position relative to the Large Corporate criteria:

Corporate Information

Velox Shipping and Logistics Limited, formerly known as Velox Industries Limited, operates from its registered office at 902 Felix Commercial Complex, Opp Asian Paints L.B.S. Marg, Bhandup Mumbai 400078 Maharashtra. The company is incorporated under CIN L52242MH1983PLC029364 and maintains contact through phone numbers +91 2262536600 and 9082267347, with email correspondence at veloxindustriesltd@gmail.com .

Key Personnel

The regulatory filing was executed by the company's key officers:

The confirmation letter was digitally signed by Company Secretary Pinal Parekh on April 13, 2026, ensuring compliance with regulatory documentation requirements.

SEBI Framework Context

The SEBI circular establishes criteria for Large Corporate classification and mandates specific borrowing requirements through debt securities. Companies meeting the Large Corporate threshold must maintain mandatory borrowing levels, with potential penalties of 0.20% of any shortfall levied by stock exchanges at the end of two-year block periods. Velox Shipping and Logistics Limited's confirmation indicates it remains below these regulatory thresholds for FY26, thereby avoiding the mandatory borrowing obligations under the framework.