Board allots 56,31,107 equity shares on conversion of warrants
Velox Shipping and Logistics Ltd has allotted 56,31,107 equity shares of face value Rs. 10/- each, at a premium of Rs. 2/- each, on conversion of an equal number of convertible warrants.
By ScoutQuest · · 2 min read
- Equity Shares Allotted
- 56,31,107 equity shares of face value Rs. 10/- each, at a premium of Rs. 2/- each
- Consideration Received
- Rs. 5.07 crore, being 75% of the total consideration
- Paid-up Share Capital Post Allotment
- Rs. 23.04 crore divided into 2,30,41,795 equity shares
Board meeting and allotment
The Board of Directors, in its meeting held on Thursday, October 15, 2026, allotted 56,31,107 equity shares of face value Rs. 10/- each to warrant holders who had applied for conversion.
- Each such share was issued at a premium of Rs. 2/- each, i.e. an issue price of Rs. 12/- per share.
- The allotment is being made in dematerialized form and the shares will rank pari passu with the existing equity shares, save for the restriction placed under the lock-in period prescribed under SEBI ICDR Regulations.
- These warrants were originally allotted on a preferential basis to Non-Promoters on May 16, 2026, pursuant to approval of shareholders at an Extra-Ordinary General Meeting held on January 08, 2026.
Consideration received
The warrant holders paid Rs. 5.07 crore, representing 75% of the total consideration payable for the 56,31,107 warrants being converted. The amount representing 25% of the total consideration was received by the company at the time of allotment of the warrants on May 16, 2026.
Who received the shares
- Pramila Bharat Poojari: 18,00,000 equity shares, against Rs. 1,62,00,000 received
- Biju Joseph: 3,07,524 equity shares, against Rs. 27,68,000 received
- Uma: 9,71,775 equity shares, against Rs. 87,45,975 received
- Ashish Deobansi: 17,51,808 equity shares, against Rs. 1,57,66,272 received
- Ramendur U Trivedi: 8,00,000 equity shares, against Rs. 72,00,000 received
- Total: 56,31,107 equity shares against Rs. 5.07 crore
No warrants remain pending for conversion.
Share capital after the allotment
Pursuant to this allotment, the paid-up share capital of the company is Rs. 23.04 crore, divided into 2,30,41,795 equity shares of face value Rs. 10/- each.
Price and timeline
- Issue price: Rs. 12/- per warrant
- Subscription price: Rs. 3/- per warrant, being 25% of the issue price
- Conversion price: Rs. 9/- per warrant, being 75% of the issue price
- The warrants were eligible for conversion for a period of 18 months from the date of allotment.
How to read this
The conversion completes a preferential issue that was approved earlier, and the company has now received the full consideration on these warrants. Because the warrants convert into equity shares, the total number of shares in issue rises to 2,30,41,795, so each existing shareholder now holds a proportionately smaller slice of the company. The five allottees are Non-Promoters named in the update, and the new shares are subject to a lock-in period.
Also from Velox Shipping and Logistics
Company Secretary and Compliance Officer appointed with immediate effect
15 Oct 2026
Board approves allotment of 56,31,107 equity shares on warrant conversion, appoints Company Secretary
15 Oct 2026
Proposed 98% stake in Dubai's Consolidated Container Shipping Line mutually terminated
1 Oct 2026
More numbers
- Equity shares allotted on conversion of warrants56,31,107
- Amount received (75% of total consideration)Rs. 5,06,79,963/-
- Face value per equity shareRs. 10/-
- Premium per equity shareRs.2/-
- Issue price per warrantRs.12/-
- Paid-up share capital post allotmentRs. 23,04,17,950/-
- Equity shares post allotment2,30,41,795
- Conversion eligibility period from date of allotment18 months
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