Shares of Magellanic Cloud Ltd may remain in focus after the company announced that its wholly owned subsidiary, Provigil Surveillance Limited, has secured a ₹31 crore purchase order for the second phase implementation of E-surveillance systems across approximately 740 ATM sites. The contract spans a period of five years.
This order builds upon the company’s earlier communication dated March 13, 2023, and marks a significant step in scaling its presence in the critical infrastructure security segment.
The company clarified that none of the promoter or group companies have any interest in the entity awarding the order, and the transaction does not qualify as a related party deal.
The development reflects Magellanic Cloud’s growing focus on expanding its surveillance and security tech footprint through its subsidiary, positioning itself strongly in the e-security services sector at a time when demand for ATM and infrastructure surveillance is accelerating nationwide.
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