News

Magellanic Cloud Limited, formerly known as South India Projects Limited, informed the BSE and National Stock Exchange of India that it has received observations from the NSE regarding the details of Ultimate Beneficial Owners of Balaji Malts Private Limited, resulting in an amendment to the list disclosed in the company’s June 25, 2026, Notice and July 20, 2026, Corrigendum, with Prasun Jodhani, Nirmal Kumar Jodhani, Sangita Jodhani, and Anita Jodhani now identified as Ultimate Beneficial Owners of Balaji Malts Private Limited alongside Saket Jodhani and Jodhani Papers Private Limited.

Magellanic Cloud Limited, formerly known as South India Projects Limited, clarified that proceeds from the preferential issue of 3,69,28,573 equity shares and 12,67,00,000 convertible warrants, approved by shareholders on July 24, 2026, will be utilized to invest Rs 150 crore in its newly incorporated subsidiary, MCRAY Xtend India Private Limited, for a drone manufacturing facility with technology from Xtend (Israel Company), Rs 100 crore for working capital, Rs 50 crore for repayment of borrowings, Rs 75 crore for research and development of drone technologies, Rs 100 crore for general corporate purposes, and Rs 15.89 crore for acquisition for inorganic growth opportunities.

Magellanic Cloud Limited, formerly known as South India Projects Limited, will hold a board meeting on Friday, August 14, 2026, to approve the unaudited standalone and consolidated financial results along with a limited review report for the quarter ended June 30, 2026, the company said in a filing. The trading window for dealing in the company`s securities has been closed since Wednesday, July 1, 2026, and will remain closed until 48 hours after the financial results are declared.

Provigil Surveillance, a wholly owned subsidiary of Magellanic Cloud, has received a Letter of Acceptance (LoA) from Western Railway, Ratlam Division, for a contract valued at Rs 12.12 crore. The contract involves the supply, installation, testing and commissioning of telecom material (CCTV Surveillance System) for the upgradation and modernisation of telecom passenger amenities and associated infrastructure across railway stations under the Ratlam Division in preparation for Simhastha 2028.As part of the project, Provigil Surveillance will deploy an integrated surveillance and communication ecosystem comprising CCTV surveillance systems, AI-enabled video analytics, face recognition capabilities, IP-MPLS networking, optical fibre connectivity, Wi-Fi infrastructure, IP telephony, telecom networking equipment, associated civil and telecom works, system integration, testing, commissioning, documentation and training of railway personnel.

Magellanic Cloud announced that its wholly owned subsidiary, Provigil Surveillance has received a purchase order from GAIL (India). The purchase order has been awarded through the Government e-Marketplace (GeM) platform for the deployment of an integrated E-surveillance system across GAIL`s NCR (Operations & Maintenance) network. The scope of the project includes the Supply, Installation, Testing, and Commissioning (SITC) and maintenance of an advanced E surveillance infrastructure in accordance with the technical specifications and contractual requirements prescribed by GAIL. The total value of the contract is Rs 12.76 crore.