Deals25 Mar 2026, 03:07 pm
Magellanic Cloud Subsidiary Secures Rs. 10 Crore Purchase Order from Indian Bank
AI Summary
Magellanic Cloud Ltd announced that its wholly owned subsidiary, Provigil Surveillance Limited, has received a purchase order from Indian Bank worth approximately Rs. 10 Crore. The order involves the deployment of advanced AI-powered, centrally monitored electronic surveillance systems across multiple branch locations under an OPEX model. This solution will enable smart monitoring, real-time visibility, and improved security management across the banking network at scale.
Key Highlights
- Magellanic Cloud's subsidiary, Provigil Surveillance Limited, secures a purchase order worth Rs. 10 Crore from Indian Bank.
- The deal involves the deployment of AI-powered electronic surveillance systems across multiple bank branches.
- The solution is expected to enhance security management and provide real-time visibility.
- The order is executed under an OPEX model.
- The transaction does not involve any related parties.