Magellanic Cloud Subsidiary IVIS Secures LOI from Manappuram Finance
Magellanic Cloud's wholly-owned subsidiary, IVIS International Private Limited, has received a Letter of Intent (LOI) from Manappuram Finance Limited for AI-powered e-surveillance services. The engagement involves the supply, installation, commissioning, centralized monitoring, and maintenance of security infrastructure across over 1,000 Manappuram Finance branches. IVIS will deploy its AI-powered Command & Control Centre platform for intelligent surveillance, real-time monitoring, and automated alert handling. This LOI is a non-binding milestone, with definitive agreements and purchase orders pending. The deal strengthens IVIS' presence in the BFSI segment and highlights confidence in its AI-enabled security capabilities.
Key Highlights
- IVIS, a Magellanic Cloud subsidiary, received an LOI from Manappuram Finance.
- The LOI is for AI-powered e-surveillance across 1,000+ branches.
- The engagement includes supply, installation, monitoring, and maintenance.
- This strengthens IVIS' position in the BFSI sector.
- The LOI is non-binding; definitive agreements are pending.
Price Impact
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