Velox Shipping to acquire 100% stake in Divinus Express Logistics for Rs 5 Cr
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Velox Shipping and Logistics has signed an agreement to acquire 100% stake in Divinus Express Logistics, a logistics firm with FY25 turnover of Rs 15.12 crore and profit of Rs 29.86 lakh. Initially, 63% will be bought for Rs 5 crore in cash, with the remaining 37% to be acquired over 3 years by December 2029. The deal is not a related party transaction and needs no regulatory approvals. The acquisition aims to expand operational capacity and strengthen market position.
100% acquisition of a logistics firm in the same industry will boost operational capacity and market position, though phased over 3 years.