Magellanic Cloud Approves Capital Raise & Merger

Magellanic Cloud Limited's Board of Directors met on June 25, 2026, approving several key resolutions. These include increasing the aggregate ceiling for NRI (Repatriable) and OCI investments to 24%, subject to member approval. The company also decided to issue 3,74,28,573 Equity Shares and 12,67,00,000 Convertible Warrants on a preferential basis to raise capital. Additionally, the board approved providing loans/guarantees/security up to ₹150 Crores each to its subsidiaries: MCRAY Xtend India Private Limited, Scandron Private Limited, and Motivity Labs Private Limited. An Extra Ordinary General Meeting (EGM) is scheduled for July 24, 2026, to seek member approval for these proposals. The board also approved the Scheme of Amalgamation of IVIS International Private Limited with Magellanic Cloud Limited, with an appointed date of April 1, 2026.