MCLOUD Subsidiary IVIS Secures ₹18.4 Crore Orders from NCR for PNB ATMs
Magellanic Cloud's subsidiary IVIS International has secured purchase orders worth ₹18.4 Crore from NCR Corporation for E-Surveillance Solutions across 1,000 Punjab National Bank (PNB) ATM sites. The orders have both Capex and Opex components and will be fulfilled over 5 years.
The order value of ₹18.4 Crore over 5 years is substantial and strengthens the company's position in a key sector, but it is not a transformative event for the entire company's financials in the short term.
The announcement details significant new orders for the company's subsidiary, indicating business growth and expansion in the BFSI sector.
Magellanic Cloud Limited announced that its wholly owned subsidiary, IVIS International Private Limited (IVIS), has secured multiple Purchase Orders from NCR Corporation India Private Limited. These orders are for providing E-Surveillance Solutions across Punjab National Bank (PNB) ATM sites and include both Capex and Opex components.
The aggregate value of these Purchase Orders is approximately ₹18.4 Crore, spread over a period of 5 years. The deployment will cover 1,000 PNB ATM sites nationwide.
Mr. Joseph Sudheer Reddy Thumma, Chairman & Managing Director of Magellanic Cloud Limited, commented that BFSI has been a key focus for IVIS, and this order strengthens their track record in delivering E-Surveillance solutions for banking networks. He highlighted the company's ability to execute scalable, technology-led deployments and its focus on leveraging domain expertise and AI-enabled capabilities to deepen its presence in the BFSI segment.
Magellanic Cloud Limited is a global technology company specializing in digital transformation, Generative AI, cloud computing, e-surveillance, and drone technologies. It has a strong ecosystem of subsidiaries and serves over 100 clients across the USA, Europe, and Asia.
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Magellanic Cloud Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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