Velox Shipping and Logistics Limited has signed a definitive agreement to acquire a 100% stake in Seaman Logistics Solutions Private Limited for ₹11 crore. The strategic investment aims to expand the company's operational capacity within the existing market and strengthen its overall market position. The transaction will be structured as a cash deal, with the acquisition process divided into two distinct phases.

The company proposes to acquire an initial majority stake of approximately 57% in Seaman Logistics at the outset. The acquisition of the remaining equity stake, roughly 43%, is scheduled to be completed over a period of three years. The entire transaction is expected to be finalized on or before December 2029. The board has determined that no governmental or regulatory approvals are required for this acquisition.

Seaman Logistics Solutions Private Limited, incorporated on May 27, 2011, operates within the logistics sector. The entity is engaged in freight contracting, shipping agency services, and other related freight and logistics activities. Its operations are currently based in India. The target entity is not a related party transaction, and the promoter or promoter group does not hold any interest in the entity being acquired.

The financial performance of Seaman Logistics for the fiscal year 2024-25 shows a turnover of ₹50.87 crore and a profit of ₹1.20 crore. The entity has an equity capital of ₹1,00,000. Historical turnover data indicates a growth trajectory from ₹4,400.30 lakh in 2022-23 to ₹3,524.25 lakh in 2023-24, before rising to ₹5,087.65 lakh in 2024-25.

Financial Overview of Seaman Logistics

Historical Turnover

Velox Shipping and Logistics Ltd has agreed to acquire a 100% stake in Divinus Express Logistics Private Limited for ₹5 crore to expand its operational capacity and strengthen its market position. The acquisition will be executed in phases, with the company initially purchasing approximately 63% of the equity stake. The remaining 37% is scheduled to be acquired over a period of three years, with the entire transaction expected to be completed on or before December 2029.

The target entity, Divinus Express Logistics Private Limited, is engaged in freight contracting, shipping agency services, and other related logistics activities. Incorporated on February 26, 2019, the company operates exclusively within India. For the financial year 2024-25, Divinus reported a turnover of ₹15,12,37,538 and a profit of ₹29,85,538.

Transaction Details

The acquisition is a strategic initiative by Velox Shipping and Logistics to reinforce its presence in the logistics sector. The transaction is structured as a cash deal and does not involve any share swap. The company confirmed that the acquisition does not fall within related party transactions and that no governmental or regulatory approvals are required for the deal.

Financial Performance of Divinus

Divinus Express Logistics Private Limited has demonstrated consistent revenue figures over the past three years. The equity capital of the target entity stands at ₹7,50,000.

The Board of Directors of Velox Shipping and Logistics Ltd approved the strategic investment pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company disclosed that the consideration for the initial 63% stake acquisition is ₹5 crore.