Velox Shipping Acquires 63% Stake in Divinus Express Logistics to Expand Market Operations
Velox Shipping and Logistics Ltd., formerly Velox Industries Limited, has entered a strategic investment agreement for the acquisition of a stake in Divinus Express Logistics Private Limited. This move is aimed at expanding operational capacity and strengthening Velox's overall market position within the logistics sector.The company has commenced the transaction by acquiring 63% of the equity value of Divinus Express Logistics Private Limited (Divinus). The cash consideration for this initial stake was set at INR 5 Crore.
Velox Shipping and Logistics Ltd., which operates in the logistics industry, views the investment as a strategic initiative to reinforce its presence in the existing market.
Financial Profile of Target Entity
Divinus Express Logistics Private Limited is an entity dedicated to providing services such as freight contracting, shipping agency services, and related freight and logistics activities. Incorporated on February 26, 2019, Divinus operates within India.
The financial metrics for the target company are detailed below:
| Metric | Details |
|---|---|
| Industry | Logistics |
| Equity Capital | Rs. 7,50,000/- |
| Turnover (2024-25) | Rs. 15,12,37,538/- |
| Profit (2024-25) | Rs. 29,85,590/- |
Three-Year Turnover History
The turnover of Divinus over the past three years shows a steady operational history:
| Financial Year | Turnover (Rupees in Lakhs) |
|---|---|
| 2024-25 | Rs. 1,512.38/- |
| 2023-24 | Rs. 1,561.57/- |
| 2022-23 | Rs. 1,219.68/- |
Completion Timeline for Full Acquisition
The current purchase represents the first phase of a larger acquisition plan. Velox Shipping and Logistics Ltd. intends to complete the full ownership structure over time. The company proposes acquiring the remaining equity stake, approximately 37%, in Divinus within a period of three years, with completion scheduled on or before December 2029.
Stock Price Movement
At the close of trading on Thursday, shares of Velox Shipping and Logistics Ltd settled at ₹17.01, marking a 5.00% rise. The stock traded completely flat throughout the day, as its high and low remained locked at this specific 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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