Magellanic Cloud Limited has announced a strategic investment and collaboration agreement with Rayonix Tech Private Limited, valued at up to ₹150 crore. The partnership aims to bolster India’s defence ecosystem by developing and supplying warfare-grade unmanned aerial vehicles (UAVs) and drones tailored to national security needs.
The agreement, dated 25 April 2026, focuses on local manufacturing, deployment, and scaling of next-generation UAV solutions. This initiative aligns with the Government of India’s Atmanirbhar Bharat vision, which seeks to enhance self-reliance in defence production. The collaboration is expected to significantly strengthen India’s indigenous defence manufacturing capabilities, providing access to advanced autonomous drone technologies for tactical operations, surveillance, reconnaissance, and security applications.
The terms of the agreement include the formation of a Special Purpose Vehicle (SPV) to facilitate the manufacturing and commercialisation of UAVs and drones in India. The partnership covers technology support, investment, and joint execution, aiming to enhance indigenous defence and security capabilities.
The agreement does not involve any change in management or control of Magellanic Cloud Limited. Additionally, there are no related party transactions, and none of the promoter or promoter group companies have any interest in the agreement.
The SPV will include board representation from both Magellanic Cloud and Rayonix Tech, ensuring a collaborative approach to the project’s execution. No potential conflicts of interest have been identified in this agreement.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).