Statement of Deviation /Variation for quarter ended 31/12/2025
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Awaiting price reaction for this filing.
Velox Shipping and Logistics Ltd has filed a Nil Statement confirming that there is no deviation or variation in the use of proceeds from its preferential allotment, originally raised on August 26, 2022. The company had raised ₹7.625 crore through the preferential issue, with ₹4 crore earmarked for acquisition/investment in a foreign entity called International Logistics Associates LLC (ILA). Of this allocated amount, only ₹44.33 lakh has been utilized so far, meaning the bulk of the funds remain unutilized. The statement has been reviewed by the Audit Committee and no monitoring agency was applicable for this issue.
This is a routine compliance filing with no negative signal — the company is simply confirming it is using the raised funds as originally approved. However, the very low utilization (₹44.33 lakh out of ₹4 crore allocated) suggests the planned investment in ILA has been slow to materialize, which investors should track for future progress updates.