Magellanic Cloud Subsidiary IVIS Secures Second Pan-India Order from Capri Global
Magellanic Cloud's subsidiary, IVIS International, received a second pan-India purchase order from Capri Global Capital Limited for its E-Surveillance & Vault Operation Solution. This expands their BFSI segment presence and demonstrates continued customer confidence in IVIS's technology and deployment capabilities.
The order signifies an expansion of services with an existing client, which is positive for revenue growth and market presence, but it is not a transformative event for the entire company.
The announcement details a new, repeat purchase order from a significant client, indicating customer satisfaction and continued business growth for the subsidiary.
Magellanic Cloud Limited announced that its wholly owned subsidiary, IVIS International Private Limited, has received a second purchase order from Capri Global Capital Limited. This new order involves the deployment of IVIS's Integrated E-Surveillance & Vault Operation Solution across additional sites on a pan-India basis.
The repeat order signifies continued confidence from Capri Global Capital Limited in IVIS's technology, nationwide deployment capabilities, and managed e-surveillance services. It will expand the existing engagement by incorporating more sites into IVIS’s growing portfolio within the Banking, Financial Services, and Insurance (BFSI) sector.
Mr. Joseph Sudheer Thumma, Chairman & Managing Director of Magellanic Cloud Limited, commented that the second purchase order is a strong endorsement of IVIS’s capabilities. He highlighted that the expansion of the engagement across additional sites further strengthens their presence in the BFSI segment and demonstrates their ability to deliver scalable, technology-driven surveillance solutions nationwide. The company remains focused on deepening existing customer relationships while expanding its portfolio of institutional deployments.
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