Magellanic Cloud Limited has announced a major business development as its wholly owned subsidiary Provigil Surveillance Limited secured a substantial ₹25+ crore purchase order from Punjab & Sind Bank. The order was disclosed on March 24, 2026, under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Order Details and Scope

The comprehensive order involves the deployment of advanced AI-enabled surveillance solutions across approximately 930 ATM/CRM sites of Punjab & Sind Bank. The contract encompasses end-to-end implementation, installation, commissioning and maintenance of integrated e-surveillance systems under an OPEX model.

Technology and Implementation

The surveillance solutions will enable enhanced real-time monitoring, threat detection and operational efficiency for the banking network. The integrated e-surveillance system represents a significant technological upgrade for Punjab & Sind Bank's ATM and CRM infrastructure, leveraging artificial intelligence capabilities for improved security monitoring.

Strategic Significance

This order marks a key milestone in strengthening the group's presence in the fast-growing surveillance and security solutions segment, particularly within the banking and financial services sector. The contract reinforces the company's growth trajectory and enhances its order book visibility, positioning it strongly for continued expansion in the surveillance and smart infrastructure domain.

Compliance and Related Party Disclosures

The company confirmed that none of the promoter, promoter group, or group companies have any interest in Punjab & Sind Bank. Additionally, the order does not fall within the purview of related party transactions, ensuring arm's length dealing in the contract award.

The disclosure was signed by Joseph Sudheer Reddy Thumma, Managing Director of Magellanic Cloud Limited, confirming the authenticity and regulatory compliance of the announcement.

Magellanic Cloud Limited has announced that its Board of Directors has authorized three Key Managerial Personnel (KMP) to determine the materiality of events or information and make disclosures to stock exchanges. The authorization was granted during a board meeting held on March 24, 2026, in accordance with Regulation 30(5) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Authorized Key Managerial Personnel

The company has designated three senior executives with specific responsibilities for material event disclosures:

Contact Information and Compliance

The authorized Key Managerial Personnel can be reached at the company's registered office located at Dallas Center, 6th Floor 83/1, Plot No A1, Knowledge City Rd, Rai Durg, Telangana 500032. The company has provided dedicated contact details for compliance matters, including the email address compliance@magellanic-cloud.com and telephone number 040-46515454.

Regulatory Framework

This authorization aligns with SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015, specifically Regulation 30(5), which allows companies to designate Key Managerial Personnel for determining and disclosing material events. The move ensures streamlined compliance processes and timely disclosure of material information to investors and stakeholders.

The company has confirmed that this information is also available on its official website at https://magellanic-cloud.com/ , ensuring transparency and accessibility for all stakeholders. The authorization was formally signed by Managing Director Joseph Sudheer Reddy Thumma (DIN: 07033919) on March 24, 2026.