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MAGELLANIC CLOUD LIMITED — M&A Activity 2026
May 21, 2026
61809_rns_2026-05-21_541545e1-2de3-48d6-9cb1-0bd51a691de2.pdf
M&A Activity
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MAGELLANIC CLOUD
21st May 2026
Bombay Stock Exchange Limited,
Dept. of Corporate Services,
14th Floor, P.J. Towers, Dalal Street,
Fort, Mumbai - 400001
Scrip Code : 538891/Scrip ID : MCLOUD
National Stock Exchange of India Ltd.,
Dept. of Corporate Services,
Exchange Plaza, Bandra- Kurla Complex,
Bandra (East), Mumbai - 400051
Symbol: MCLOUD/Series: EQ
Sub: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Ref: Intimation of Incorporation of Special Purpose Vehicle - MCRAY XTEND INDIA PRIVATE LIMITED
Dear Sir/Madam,
In continuation to Intimation made on April 28 2026, Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations") and applicable SEBI Circulars issued thereunder, we hereby inform that Magellanic Cloud Limited ("the Company") and Rayonix Tech Private Limited has jointly incorporated a Special Purpose Vehicle ("SPV") in the name of MCRAY XTEND INDIA PRIVATE LIMITED ("MCRAY").
The SPV has been incorporated in furtherance of the Strategic Investment and Collaboration Agreement executed between the Company and Rayonix Tech Private Limited for carrying out activities relating to unmanned aerial vehicle (UAV) technology, defence technology solutions, manufacturing, deployment, and other allied business operations.
The Company will acquire 60% shareholding in Mcray Xtend India Private Limited through subscription to its paid-up equity share capital and consequently, MCRAY will become a subsidiary of the Company.
The incorporation of the SPV and the proposed investment are aligned with the Company's strategic expansion plans in the UAV and defence technology sector and are expected to strengthen its participation in indigenous technology development initiatives in India.
MAGELLANIC CLOUD LIMITED
Formerly known as South India Projects Limited
CIN: L72100TG1981PLC169991
Registered Office: 6th Floor, Dallas Center, 83/1, Plot No A1 Knowledge City, Rai Durg Hyderabad Rangareddi TG 500032
Telephone No.: 040-46515454
www.magellanic-cloud.com [email protected]
MAGELLANIC CLOUD
None of the promoter/promoter group/group companies have any interest in MCRAY Private Limited, except to the extent of their shareholding interest in the Company, if any. Further, the transaction does not fall within the purview of related party transaction.
For Magellanic Cloud Limited
JOSEPH SUDHEER
REDDY THUMMA
Digitally signed by JOSEPH
SUDHEER REDDY THUMMA
Date: 2026.05.21 13:24:29
+05'30'
Joseph Sudheer Reddy Thumma
Chairman & Managing Director
DIN: 07033919
MAGELLANIC CLOUD LIMITED
Formerly known as South India Projects Limited
CIN: L72100TG1981PLC169991
Registered Office: 6th Floor, Dallas Center, 83/1, Plot No A1 Knowledge City, Rai Durg Hyderabad Rangareddi TG 500032
Telephone No.: 040-46515454
www.magellanic-cloud.com [email protected]
MAGELLANIC CLOUD
21st May 2026
Annexure A
Disclosure in terms of SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 read with Regulations 30 of SEBI (Listing Obligation & Disclosure Requirement) Regulations, 2015
| Sl. No. | Particulars | Remarks |
|---|---|---|
| 1. | Name of the target entity, details in brief such as size, turnover etc. | Mcray Xtend India Private Limited, incorporated as a Special Purpose Vehicle (SPV) for execution of UAV and defence technology related projects. |
| 2. | Whether the acquisition would fall within related party transaction(s) and whether the promoter / promoter group / group companies have any interest in the entity being acquired | No. The transaction does not fall within the ambit of related party transactions. None of the promoter/promoter group/group companies have any interest in the transaction |
| 3. | Industry to which the entity being acquired belongs | Drone Technology |
| 4. | Objects and impact of acquisition | The incorporation and investment in the SPV will enable the Company to undertake UAV and defence technology projects, local manufacturing, deployment, and commercialization activities in India. |
| 5 | Brief details of any governmental or regulatory approvals required for the acquisition. | Applicable statutory and regulatory approvals including the Ministry of Corporate Affairs |
| 6. | Indicative time period for completion of the acquisition | The acquisition shall be deemed to be completed following the subscription to the share capital. |
| 7. | Nature of consideration – whether cash consideration or share swap and details of the same | Cash consideration |
MAGELLANIC CLOUD LIMITED
Formerly known as South India Projects Limited
CIN: L72100TG1981PLC169991
Registered Office: 6th Floor, Dallas Center, 83/1, Plot No A1 Knowledge City, Rai Durg Hyderabad Rangareddi TG 500032
Telephone No.: 040-46515454
www.magellanic-cloud.com [email protected]
MAGELLANIC CLOUD
| 8. | Cost of acquisition and/or the price at which the shares are acquired | 6,00,000 equity shares of MCRAY shall be acquired a face value of Rs. 10/- each |
|---|---|---|
| 9. | Percentage of shareholding / control acquired and / or number of shares acquired | Magellanic Cloud Limited shall hold 60% stake in the SPV, thereby making it a subsidiary of the Company. |
| 10. | Brief background about the entity acquired | Mcray Xtend India Limited has been incorporated as an SPV pursuant to the strategic collaboration between Magellanic Cloud Limited and Rayonix Tech Private Limited for carrying out UAV, autonomous systems, surveillance, reconnaissance, security and defence technology related business activities. |
For Magellanic Cloud Limited
JOSEPH SUDHEER
REDDY THUMMA
Digitally signed by JOSEPH SUDHEER REDDY THUMMA
Date: 2026.05.21 13:24:03
+05'30'
Joseph Sudheer Reddy Thumma
Chairman & Managing Director
DIN: 07033919
MAGELLANIC CLOUD LIMITED
Formerly known as South India Projects Limited
CIN: L72100TG1981PLC169991
Registered Office: 6th Floor, Dallas Center, 83/1, Plot No A1 Knowledge City, Rai Durg Hyderabad Rangareddi TG 500032
Telephone No.: 040-46515454
www.magellanic-cloud.com [email protected]