Magellanic Cloud Subsidiary Secures Manappuram Finance LOI; Shares Rise

Mumbai, June 30:Magellanic Cloud Ltd on Tuesday said its wholly owned subsidiary, IVIS International Private Limited, has received a Letter of Intent (LOI) from Manappuram Finance Ltd for AI-powered command and control centre (CCC) e-surveillance services across the lender’s branch network.

According to the company’s exchange filing, the proposed engagement covers the supply, installation, commissioning, centralised monitoring and maintenance of security infrastructure using IVIS’ AI-enabled Command & Control Centre platform.

The deployment is expected to be carried out in phases and may eventually cover around 1,000 branches, subject to the issuance of purchase orders and execution of definitive agreements between the parties.

The company said the solution is designed to provide real-time event monitoring, automated alert handling and escalation, centralised branch visibility, vault operations monitoring and end-to-end maintenance of security infrastructure. The engagement would further strengthen IVIS’ presence in the BFSI segment, where demand for intelligent surveillance and centralised security management solutions continues to grow.

Magellanic Cloud clarified that the LOI is non-binding and does not constitute a contractual or financial commitment. The final scope of work, commercial terms, project timelines and contract value will be determined after definitive agreements are executed and purchase orders are issued.

Stock Market Snapshot

The announcement kept Magellanic Cloud share price in focus during Tuesday’s trading session.

As of 9:52 AM IST on June 30, 2026, shares of Magellanic Cloud were trading at ₹28.86, up ₹0.38 or 1.33% from the previous close.

While the financial value of the engagement has not yet been disclosed, investors appeared encouraged by the potential scale of the deployment and the opportunity to deepen the company’s footprint in AI-led surveillance solutions for the financial services sector.

Company Background

Magellanic Cloud operates across technology, cybersecurity, geospatial services and digital transformation solutions. Through its subsidiary IVIS International, the company provides AI-enabled surveillance, command and control centre solutions, video analytics and integrated security infrastructure for enterprises and government organisations.

The company has been expanding its presence in intelligent monitoring and AI-based security solutions as organisations increasingly adopt technology-driven surveillance platforms.

Conclusion

The LOI from Manappuram Finance represents a potentially significant business opportunity for Magellanic Cloud’s surveillance business, particularly given the proposed deployment across nearly 1,000 branches. However, since the engagement remains non-binding, investors are likely to watch for the conversion of the LOI into definitive agreements and purchase orders before assessing its financial impact.

Source:

• https://www.nseindia.com/get-quote/equity/MCLOUD/Magellanic-Cloud-Limited
• https://nsearchives.nseindia.com/corporate/MCLOUD_30062026093620_SEUPload.pdf