Deals22 Oct 2026, 09:19 am
Magellanic Cloud Subsidiary L1 Bidder for ₹115 Cr Bank Tender
AI Summary
Magellanic Cloud Limited's wholly owned subsidiary, Provigil Surveillance Limited, has emerged as the L1 (lowest) bidder in a tender issued by Bank of Maharashtra for e-surveillance solutions. The project, valued at approximately ₹115 Crore, involves providing e-surveillance across over 1,550 sites and operating a 24/7 Central Monitoring Station. This development is subject to the formal award of the contract by the bank. The company stated that this opportunity would further strengthen its presence in the BFSI e-surveillance segment, aligning with Provigil's core business. Magellanic Cloud Limited was formerly known as South India Projects Limited.
Key Highlights
- Provigil Surveillance Limited is the L1 bidder for Bank of Maharashtra's e-surveillance tender.
- The project value is approximately ₹115 Crore, covering over 1,550 sites.
- Scope includes supply, installation, and operation of e-surveillance systems and a monitoring station.
- This strengthens Magellanic Cloud's position in the BFSI e-surveillance sector.
Price Impact
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