Hyderabad, January 9, 2026: Magellanic Cloud Limited announced that its Board of Directors has approved key corporate actions, including moving ahead with a proposed merger and convening an Extraordinary General Meeting to seek shareholder approval.
Merger Proposal Approved by the Board
The Board approved the draft notice to convene an Extraordinary General Meeting to place before shareholders a proposed Scheme of Merger between Magellanic Cloud Limited, as the transferee entity, and IVIS International Private Limited, as the transferor entity. The merger is proposed to be undertaken through a fast-track process, subject to shareholder consent.The approval marks a key procedural milestone in the company’s consolidation plans and is aimed at streamlining operations under a unified corporate structure.
Extraordinary General Meeting Details
The company will hold its Extraordinary General Meeting on Tuesday, February 3, 2026, at 12:00 PM IST. The meeting will be conducted through video conferencing and other audio-visual means, enabling shareholder participation in a virtual format.For the purpose of electronic voting, the Board has fixed Tuesday, January 27, 2026, as the cut-off date to determine shareholders eligible to vote on the resolutions to be placed before the meeting.
Appointment of Scrutinizer
To ensure a transparent and orderly voting process, the Board has appointed Mr. Deep Shukla, Practicing Company Secretary, as the scrutinizer to oversee both remote e-voting and e-voting during the Extraordinary General Meeting.Board Meeting Timeline
The Board meeting at which these decisions were taken commenced at 4:30 PM IST and concluded at 5:10 PM IST.About the Company
Magellanic Cloud Limited is a listed technology-focused company engaged in providing digital, IT, and enterprise solutions across multiple sectors. The company is listed on Indian stock exchanges and continues to pursue strategic initiatives aimed at strengthening its operational scale and long-term growth profile.Source:
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