Magellanic Cloud Limited has incorporated a Special Purpose Vehicle (SPV) named MCRAY XTEND INDIA PRIVATE LIMITED in collaboration with Rayonix Tech Private Limited. The entity was established on May 21, 2026, pursuant to a Strategic Investment and Collaboration Agreement between the two companies. The SPV will undertake activities relating to unmanned aerial vehicle (UAV) technology, defence technology solutions, manufacturing, deployment, and other allied business operations.

The company will acquire a 60% shareholding in Mcray Xtend India Private Limited through subscription to its paid-up equity share capital. Consequently, MCRAY will become a subsidiary of Magellanic Cloud Limited. The transaction involves the acquisition of 6,00,000 equity shares at a face value of Rs. 10/- each via cash consideration. The acquisition is expected to be completed following the subscription to the share capital.

Strategic Expansion and Impact

The incorporation of the SPV and the proposed investment are aligned with the company’s strategic expansion plans in the UAV and defence technology sector. This move is expected to strengthen its participation in indigenous technology development initiatives in India. The collaboration aims to enable the company to undertake UAV and defence technology projects, local manufacturing, deployment, and commercialization activities.

Transaction Details

The disclosure confirms that none of the promoter, promoter group, or group companies have any interest in MCRAY Private Limited, except to the extent of their shareholding interest in Magellanic Cloud Limited. The transaction does not fall within the purview of related party transactions. Applicable statutory and regulatory approvals, including those from the Ministry of Corporate Affairs, will be sought for the acquisition.

magellanic cloud has revised its disclosure regarding the pledging of promoter shares for the financial year ended March 31, 2026. The company submitted the revised filing to the Bombay Stock Exchange and the National Stock Exchange on April 20, 2026, to correct a typographical error in its earlier submission under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The disclosure confirms that the details of encumbrances created by way of pledge over equity shares have been duly disclosed to the stock exchanges during the financial year. The promoters stated that, save and except the encumbrances already disclosed, no additional encumbrance has been created directly or indirectly during the said financial year.

Shareholding and Pledging Details

As on March 31, 2026, an aggregate of 10,78,55,554 equity shares held by the promoters and promoter group stand pledged. The total shareholding of the promoter and promoter group in the company is detailed below:

The filing was made on behalf of all promoters of Magellanic Cloud Limited by Joseph Sudheer Reddy Thumma. The company requested the exchanges to take the revised disclosure on record and acknowledge receipt of the same.