Magellanic Cloud Subsidiary Secures ₹25 Crore Purchase Order from Punjab & Sind Bank
Magellanic Cloud Limited announced on March 24, 2026, that its wholly owned subsidiary, Provigil Surveillance Limited, has received a purchase order of approximately ₹25 Crore from Punjab & Sind Bank.The order involves the deployment of advanced AI-enabled surveillance solutions across approximately 930 ATM/CRM sites. This deployment will enable enhanced real-time monitoring, threat detection, and operational efficiency for the bank's network over a period of five years under an OPEX model.
According to a filing, none of the promoters, promoter group, or group companies have any interest in Punjab & Sind Bank. The order does not constitute a related-party transaction.
The acquisition of this order reinforces Magellanic Cloud’s growth trajectory and enhances its order book visibility, positioning the company for continued expansion in the surveillance and smart infrastructure domain.
Order Details
| Particulars | Details |
|---|---|
| Entity Awarding Order | Punjab & Sind Bank |
| Order Type | Integrated E-surveillance system at ATMs/CRMs under OPEX Model |
| Contract Execution Period | 5 years |
| Order Value | Approximately ₹25 Crore |
| Promoter/Group Interest | None |
| Related Party Transaction | No |
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