We confirm that there is no variation or deviation in the use of the proceeds of preferential allotment as on June 30, 2025.
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Awaiting price reaction for this filing.
Velox Shipping and Logistics Ltd has filed a quarterly compliance statement confirming there is no deviation or variation in the use of proceeds from its preferential allotment. The company had raised Rs. 7.625 crore through a preferential issue of equity shares on August 26, 2022. As of the quarter ended June 30, 2025, none of these funds have been utilized. The statement has been reviewed by the company's Audit Committee. No monitoring agency was appointed for this issue. The filing is made under Regulation 32 of SEBI LODR Regulations, 2015.
This is a routine NIL compliance filing and is unlikely to move the stock on its own. However, shareholders may note that Rs. 7.625 crore raised nearly three years ago in August 2022 remains completely unutilized, which could raise questions about deployment delays and the original stated purpose of the raise.