Velox Shipping Acquires 98% Stake in International Logistics Associates to Expand Global Reach
Velox Shipping and Logistics Ltd, formerly known as Velox Industries Limited, has completed the acquisition of a significant stake in International Logistics Associates LLC (ILA). The move aims to facilitate the expansion and establishment of the company's operations within international markets.The transaction was finalized on July 20, 2026, with the company discharging its entire consideration for the acquisition. Velox Shipping and Logistics now controls 98% of the equity value of ILA. The purchase involved a cash transaction, amounting to USD 4,47,860 for the 98% shareholding in the target entity.
The acquired company, International Logistics Associates LLC (ILA), operates within the logistics industry and is based in the United States of America. ILA provides services including freight contracting, shipping agency services, and other related freight and logistics activities. The acquisition aligns with Velox's objective to strengthen its presence in international markets.
Details regarding the target entity and the transaction are summarized below:
| Requirement | Detail |
|---|---|
| Target Entity Name | International Logistics Associates LLC (ILA) |
| Industry | Logistics |
| Shareholding Acquired | 98% of equity value in ILA |
| Acquisition Objective | Expanding and establishing business operations in international markets |
| Transaction Type | Cash transaction |
| Cost of Acquisition | USD 4,47,860 |
Financial Profile of Target Entity
As per the information available as at March 31, 2026, ILA holds a specific financial profile:| Metric (as of March 31, 2026) | Value |
|---|---|
| Equity Value | USD 4,47,860 |
| Turnover | USD 32,20,321 |
| Profit | USD (62,596) |
ILA has a history of operations spanning over a decade and holds a presence in the United States of America. The turnover figures for ILA over the last three years are as follows:
| Fiscal Year | Turnover (USD) |
|---|---|
| FY 2024 | 42,25,927 |
| 2025 | 27,84,788 |
| 2026 | 32,20,321 |
Stock Price Movement
At the close of trade on Thursday, shares of Velox Shipping and Logistics Ltd. settled at ₹17.01, gaining 5.00% during the session. The stock was locked completely flat throughout the day, with both the intraday high and low registering precisely at ₹17.01.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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