Velox Shipping and Logistics Limited (formerly Velox Industries Limited) has announced a significant move to expand its business operations in the shipping and logistics sector. The company has signed an agreement to acquire a 98% stake in Anchorage Shipping, a partnership firm, for Rs 15 crore in cash consideration.

Key Details of the Acquisition

About Anchorage Shipping

Anchorage Shipping, the target entity, is a well-established firm in the shipping and logistics industry. Here are some key points about the company:

• Incorporation Date: January 24, 1986
• Registration Date: June 04, 2005
• Core Business: Provides services in shipping, clearing and forwarding, and Customs House Broking
• Additional Services: Freight forwarding, cargo handling, and multi-modal transportation
• Representation: Acts as an agent for foreign and Indian Shipping Lines in various parts of India

Financial Overview of Anchorage Shipping

For the fiscal year 2024-25, Anchorage Shipping reported a profit of Rs 52,15,238.

Strategic Implications

This acquisition aligns with Velox Shipping and Logistics Limited's strategy to expand its business operations and explore new investment opportunities in the shipping and logistics sector. The move is expected to strengthen the company's position in the industry and potentially lead to synergies between the two entities.

Transaction Structure

• The investment will be made through deferred payments.
• Upon completion, Velox Shipping and Logistics will control 98% of the capital in Anchorage Shipping.
• The partners' capital contribution in Anchorage Shipping will increase from Rs 2,00,000 to Rs 15,02,00,000 after the agreement.

Regulatory Compliance

The company has made this disclosure in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This transaction does not fall within the purview of related party transactions, and none of the promoter/promoter group/group companies have any interest in Anchorage Shipping.

Investors and market participants will be watching how this acquisition unfolds and its impact on Velox Shipping and Logistics Limited's future performance in the competitive shipping and logistics industry.

Velox Shipping and Logistics Limited , formerly known as Velox Industries Limited, has announced a significant move to expand its international presence. The company has signed an agreement to acquire a 98% stake in International Logistics Associates LLC (ILA), a US-based freight contracting and shipping agency services company, for USD 4,47,860.

Acquisition Details

Financial Highlights of ILA

Strategic Rationale

The acquisition aligns with Velox Shipping and Logistics' objective of expanding and establishing its business operations in international markets. ILA, incorporated on October 15, 2013, provides services in freight contracting, shipping agency services, and other related freight and logistics activities.

Historical Performance

ILA has shown significant growth in recent years:

Transaction Details

• Nature of Consideration: Cash transaction
• Regulatory Approvals Required: None specified
• Related Party Transaction: No

Outlook

This strategic move is expected to strengthen Velox Shipping and Logistics' position in the global logistics market. The company aims to leverage ILA's established presence in the United States to enhance its international operations and service offerings.

As the logistics industry continues to evolve, particularly in the wake of changing global trade dynamics, this acquisition may position Velox to capitalize on new opportunities in the international freight and shipping sector.

Investors and stakeholders will be watching closely to see how this acquisition impacts Velox's financial performance and market position in the coming years, especially as the company works towards completing the transaction by December 2026.