Velox Shipping and Logistics Ltd will allot 17,78,180 equity shares on a preferential basis to non-promoter category allottees on June 18, 2026. The company's board is scheduled to meet on this date to finalize the allotment, which has already been approved by shareholders and the stock exchange.

Board Meeting Details

The meeting of the Board of Directors will be held on Thursday, June 18, 2026. The primary agenda is the allotment of shares to the non-promoter category. The decision follows the necessary regulatory approvals and shareholder consent.

Allotment Breakdown

The intimation was submitted to BSE Limited pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Pinal Rahul Parekh, Company Secretary and Compliance Officer, signed the filing on June 15, 2026.

Velox Shipping and Logistics Limited reported its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The company recorded a consolidated revenue from operations of ₹2,089.53 lakh for FY26, a significant increase from ₹25.00 lakh in the previous year. However, the consolidated net loss for the year stood at ₹73.28 lakh, compared to a profit of ₹43.94 lakh in FY25. On a standalone basis, the company reported a net profit of ₹34.25 lakh for the year.

The Board of Directors approved the financial results in its meeting held on May 29, 2026. M/s. Bilimoria Mehta & Co., Statutory Auditors of the Company, issued an audit report with an unmodified opinion on the financial results. The meeting was convened pursuant to Regulation 30 and 33 of the SEBI (LODR) Regulations, 2015.

Financial Performance

The company's financial performance was influenced by recent acquisitions and expansion activities. For the quarter ended March 31, 2026, the consolidated revenue from operations was ₹1,745.26 lakh, while the standalone revenue was ₹210.33 lakh. Total consolidated income for the year was ₹2,227.62 lakh. The company reported a basic and diluted earnings per share (EPS) of (₹0.89) on a consolidated basis for the year.

Acquisitions and Capital Allocation

During the year, Velox Shipping acquired a 98% stake in Anchorage Shipping and International Logistics Associates LLC, consolidating their financials. The company also entered into an agreement to acquire a 98% stake in Consolidated Container Shipping Line LLC, Dubai, though this was pending completion as of March 31, 2026.

In a subsequent event, the Board allotted 2,83,33,333 convertible warrants to non-promoter investors at an issue price of ₹12 per warrant. The company received ₹8.49 crore, representing 25% of the subscription price. These warrants are convertible into one fully paid-up equity share of ₹10 each upon payment of the balance consideration.