Magellanic Cloud Approves Capital Raise & Merger Scheme

Magellanic Cloud Limited's Board of Directors met on June 25, 2026, approving several key proposals. These include increasing the aggregate ceiling for NRI/OCI investment to 24%, subject to member and regulatory approvals. The company also decided to issue 3,74,28,573 Equity Shares to Non-Promoters and 12,67,00,000 Convertible Warrants to Promoters/Non-Promoters on a preferential basis to raise additional capital. Furthermore, the board approved providing loans/guarantees/security up to ₹150 crore 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 noted the Scheme of Amalgamation of IVIS International Private Limited with Magellanic Cloud Limited, with an appointed date of April 1, 2026. The amalgamation, where the transferee company holds all shares of the transferor company, will not involve the issuance of new shares by the transferee company.