Velox Shipping and Logistics Allots 17,78,180 Equity Shares Upon Convertible Warrant Conversion
Velox Shipping and Logistics Ltd (formerly Velox Industries Limited) has allotted 17,78,180 equity shares to warrant holders following the conversion of convertible warrants. The allotment was made by the Board of Directors during a meeting held on June 18, 2026.The equity shares were allotted to various non-promoters after warrant holders paid a portion of the balance consideration. The total amount received by the Company from the warrant holders for this conversion stands at Rs. 1,60,03,876. These funds represent 75% of the total consideration payable for the converted warrants.
The company confirmed that allottees successfully applied to exercise their rights, leading to the allotment of 17,78,180 equity shares, each having a face value of Rs. 10/-. The allotted equity shares will rank pari passu with the existing Equity Shares of the Company in all respects.
A breakdown of the allotment and corresponding details for the convertible warrants is provided below:
| Name of Allottee | Number of Convertible Warrants Allotted | Total Warrants Allotted (May 16, 2026) | Amount Received (75% of Consideration) | Equity Shares Allotted |
|---|---|---|---|---|
| Shiven Bharat Poojary | 8,37,416 | 2,09,354 | 75,37,000 | 8,37,416 |
| Sumita Arora | 7,00,000 | 1,75,000 | 63,00,000 | 7,00,000 |
| Rohan Rana | 1,00,000 | 25,000 | 9,00,000 | 1,00,000 |
| Gaurav Rana | 1,00,000 | 25,000 | 9,00,000 | 1,00,000 |
| Vincent Arun D'souza | 8,588 | 2,147 | 77,292 | 8,588 |
| Harish Suvarna | 8,588 | 2,147 | 77,292 | 8,588 |
| Rosario Gurjao | 8,588 | 2,147 | 77,292 | 8,588 |
| Vishal Balhara | 15,000 | 3,750 | 1,35,000 | 15,000 |
| TOTAL | 17,78,180 | 4,44,545 | 1,60,03,876 | 17,78,180 |
The convertible warrants were issued through a Preferential Allotment process following shareholder approval at the Extra-Ordinary General Meeting held on January 08, 2026. The allotment of equity shares was completed in dematerialized form.
Stock Price Movement
Velox Shipping and Logistics Ltd settled at ₹17.01 on Thursday, climbing 5.00% in response to market activity. The shares traded completely flat throughout the session, with the intraday high and low both locked 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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