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 Limited's wholly owned subsidiary, Provigil Surveillance Limited, has secured a Letter of Acceptance (LOA) from South-Western Railway, Bengaluru Division, for a CCTV surveillance project worth approximately ₹3.59 Crore. The disclosure, dated May 11, 2026, was made pursuant to Regulation 30 read with Schedule III (Para B) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI Circular dated November 11, 2024.

Project Scope and Key Details

The project entails the Replacement and Additional Provision of CCTV Surveillance System at Mysuru Railway Station under South-Western Railway. The scope of work is comprehensive, covering the supply, installation, testing, commissioning, and integration of advanced surveillance infrastructure. Key components of the system include:

• VMS, VAS & FRS integration
• PTZ, Bullet, Dome, and 4K UHD Cameras
• Video Analytics Servers and Storage Systems
• Networking Infrastructure and UPS Systems
• Centralized monitoring infrastructure with failover architecture

The following table summarises the key parameters of the order as disclosed under the SEBI circular:

Management Commentary

Commenting on the development, Joseph Sudheer Reddy Thumma, Chairman & Managing Director, Magellanic Cloud Limited, stated, "Our growing presence in railway surveillance projects highlights the accelerating shift toward technology-driven infrastructure modernization across India. Large-scale transport environments today require surveillance systems that can do far more than record footage; they need intelligent systems capable of delivering real-time visibility, operational insights, and proactive monitoring. Through our AI-powered surveillance capabilities, we aim to support the creation of smarter, safer, and more digitally resilient public infrastructure for the future."

Compliance and Disclosures

The company has confirmed that none of the promoter, promoter group, or group companies have any interest in South-Western Railway, the entity that awarded the order. Additionally, the contract does not fall within the purview of related party transactions. The disclosure was filed in compliance with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, read with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.