Velox Shipping Acquires 57% Stake in Seaman Logistics for Strategic Market Expansion
Velox Shipping and Logistics Ltd, formerly known as Velox Industries Limited, has entered a strategic investment by acquiring a majority stake in Seaman Logistics Solutions Private Limited. The acquisition is intended to expand the company's operational capacity and strengthen its overall market position within the logistics sector.The transaction involves a cash consideration amounting to INR 11 Crore for the purchase of a 57% equity stake in Seaman Logistics Solutions Private Limited. This initial phase of the investment positions Velox Shipping and Logistics Ltd as a major participant in the company's growth trajectory.
Seaman Logistics Solutions Private Limited operates in the logistics industry, providing services related to freight contracting, shipping agency services, and other related freight activities. The acquisition is described by the Company as a strategic initiative designed to reinforce its market standing within existing operational areas.
The investment marks an early stage of a planned commitment. While Velox Shipping has currently acquired 57% of Seaman's equity value, the remaining approximate 43% stake is slated for completion over a three-year period, with the full acquisition expected no later than December 2029.
Financial and Operational Details of Seaman Logistics Solutions Private Limited
Seaman Logistics Solutions is an Indian entity established in May 2011. The company's business encompasses logistics services, and its financial performance over the past few years shows consistent growth.The key operational and financial details pertaining to Seaman are as follows:
| Parameter | Details |
|---|---|
| Target Name | Seaman Logistics Solutions Private Limited |
| Industry | Logistics |
| Date of Incorporation | May 27, 2011 |
| Equity Capital | Rs.1,00,000/- |
| Turnover (2024-25) | Rs. 50,87,64,754.65/- |
| Profit (2024-25) | Rs. 1,20,12,840.95/- |
The turnover of Seaman Logistics Solutions over the last three fiscal years has been reported as follows:
| Fiscal Year | Turnover (in Lakhs) |
|---|---|
| 2024-25 | Rs. 5,087.65/- |
| 2023-24 | Rs. 3,524.25/- |
| 2022-23 | Rs. 4,400.30/- |
The acquisition is noted to be a cash transaction and does not involve any related party interests or the required governmental approvals were NIL for the initial purchase of the 57% stake.
Stock Price Movement
Shares of Velox Shipping and Logistics Ltd settled at ₹17.01 on Thursday, having edged higher with a 5.00% increase. The stock remained completely flat throughout the day, as its intraday high and low were locked at this single price point.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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