Magellanic Cloud forms JV with Rayonix for ₹150 Cr defence UAVs

Magellanic Cloud Ltd has entered into a Strategic Investment and Collaboration Agreement dated April 25, 2026, with Rayonix Tech Private Limited. This partnership aims to support India’s defence ecosystem by developing and supplying warfare-grade UAVs and drones, tailored for national security. The collaboration, involving an investment of up to ₹150 Crore, will focus on local manufacturing, deployment, and scaling of next-generation UAV solutions, aligning with the 'Atmanirbhar Bharat' vision. An SPV will be incorporated for the execution and commercialization of UAV technology projects. This initiative is expected to strengthen India's indigenous defence manufacturing capabilities and provide access to cutting-edge autonomous drone technologies for tactical operations, surveillance, reconnaissance, and security applications. No promoter or related party has an interest in this agreement.