Velox Shipping Acquires 57% Stake in Seaman for Strategic Market Expansion
Velox Shipping and Logistics Limited (formerly Velox Industries Limited) has initiated a strategic investment by acquiring a significant stake in Seaman Logistics Solutions Private Limited. The move aims to expand operational capacity within the existing market and strengthen Velox’s overall market position, according to company statements.The acquisition involves purchasing 57% of the equity value of Seaman through a cash transaction for INR 11 Crore.
Seaman Logistics Solutions Private Limited operates in the logistics industry, providing services such as freight contracting, shipping agency services, and other related freight and logistics activities. The acquisition is part of Velox's larger objective to acquire a full controlling interest in the company over time.
Velox Shipping plans to complete the remaining portion of the equity stake within three years, with the eventual completion targeted on or before December 2029. This phased approach allows for immediate operational integration while securing the complete control necessary for long-term strategic goals.
Key details regarding the target entity and the current transaction are summarized below:
| Metric | Details |
|---|---|
| Target Company | Seaman Logistics Solutions Private Limited |
| Industry | Logistics |
| Investment Cost (57% Stake) | INR 11 Crore |
| Acquisition Nature | Cash transaction |
| Current Shareholding Acquired | 57% of the equity value |
Details pertaining to Seaman’s financial health and background include:
| Metric | Details |
|---|---|
| Date of Incorporation | May 27, 2011 |
| Total Equity Capital | Rs. 1,00,000/- |
| Turnover (2024-25) | Rs. 50,87,64,754.65/- |
| Profit (2024-25) | Rs. 1,20,12,840.95/- |
| Historical Turnover | 2024-25: Rs. 5,087.65/ (Lakhs); 2023-24: Rs. 3,524.25/ (Lakhs); 2022-23: Rs. 4,400.30/ (Lakhs) |
Stock Price Movement
GV Films Ltd settled at ₹0.29 on Monday, reflecting a decline of 3.33% during the trading session. The shares traded within a tight range, moving between an intraday low of ₹0.29 and a high of ₹0.30.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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