Company Update

Velox Shipping and Logistics Limited has announced a postal ballot seeking shareholder approval to deploy Rs. 7.63 Cr raised through a preferential allotment for business expansion, general corporate purposes, and increasing working capital by investing in a foreign entity named ‘ILA’ and potential other inorganic acquisitions.

Voting will be conducted electronically, ensuring transparency through an appointed scrutinizer.

This move indicates the company’s strategic intent to grow through acquisitions, which could enhance its operational reach and value for shareholders.