EGM of the Company is scheduled to be held on 8th January, 2026 at 12:30 pm at the registered office of the Company
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Awaiting price reaction for this filing.
Velox Shipping and Logistics has called an EGM on January 8, 2026 at 12:30 pm at its Mumbai registered office. Shareholders will vote on four items: (1) increasing authorized share capital from Rs. 13 crore (1.30 crore shares of Rs. 10) to Rs. 40 crore (4 crore shares of Rs. 10); (2) amending the Memorandum of Association to reflect this change; (3) adopting a new set of Articles of Association based on Table F of the Companies Act; and (4) issuing up to 2,83,33,333 Fully Convertible Warrants at Rs. 12 per warrant on a preferential/private placement basis to 35 non-promoter allottees, aggregating up to Rs. 33,99,99,996 (about Rs. 34 crore). The floor price of Rs. 12 was set by ValuGenius Advisors LLP via an independent valuation dated December 8, 2025. Each warrant converts into one equity share of Rs. 10 within 18 months, with 25% upfront payment and balance on conversion. E-voting runs from January 5 to January 7, 2026, with cut-off date January 1, 2026.
If approved, the preferential warrant issue of ~2.83 crore shares could dilute existing shareholders' stake as it represents a sizeable addition relative to the current 1.30 crore authorized shares. The company is raising roughly Rs. 34 crore from 35 non-promoter public investors, and simultaneous changes to authorized capital and Articles are housekeeping needed to accommodate this issuance. Investors should watch for the post-EGM allotment and any subsequent equity expansion or related-party concerns among the 35 allottees.