Deals24 Mar 2026, 05:30 pm
Magellanic Cloud Subsidiary Secures ₹25+ Crore Purchase Order from Punjab & Sind Bank
AI Summary
Magellanic Cloud Limited's wholly owned subsidiary, Provigil Surveillance Limited, has secured a significant ₹25+ Crore Purchase Order from Punjab & Sind Bank. The order involves deployment of advanced AI-enabled surveillance solutions across approximately 930 ATM/CRM sites, enhancing real-time monitoring, threat detection, and operational efficiency for the banking network. This order reinforces the Company’s growth trajectory and marks a key milestone in strengthening its presence in the surveillance and smart infrastructure domain, particularly within the banking and financial services sector.
Key Highlights
- Magellanic Cloud's subsidiary, Provigil Surveillance Limited, secures a ₹25+ Crore Purchase Order from Punjab & Sind Bank.
- The order involves deployment of advanced AI-enabled surveillance solutions across approximately 930 ATM/CRM sites.
- This order enhances the Company’s order book visibility and positions it strongly for continued expansion in the surveillance and smart infrastructure domain.
- The deal marks a key milestone in strengthening the Group’s presence in the fast-growing surveillance and security solutions segment.
- The order does not fall within the purview of related party transaction.