Magellanic Cloud Amends Preferential Issue Objects

Magellanic Cloud Ltd has amended the objects for its preferential issue of equity shares and convertible warrants. Following stock exchange observations, the clause regarding 'strategic acquisitions, technology acquisitions, investments, joint ventures, purchase of businesses, assets, intellectual property, and related growth opportunities' has been revised to 'Acquisition for inorganic growth opportunities'. The total issue size is ₹490.89 crore. Funds will be allocated to investments in a drone manufacturing subsidiary (₹150 crore), working capital (₹100 crore), debt repayment (₹50 crore), R&D for drone technologies (₹75 crore), general corporate purposes (₹100 crore), and inorganic growth (₹15.89 crore).