IVIS International, a wholly owned subsidiary of Magellanic Cloud, has received a Letter of Intent (LOI) from Manappuram Finance for proposed outsourced Command & Control Centre (CCC) e-surveillance services. According to the company's exchange filing, this engagement relates to security infrastructure deployment across Manappuram Finance's extensive branch network. The announcement kept Magellanic Cloud share price in focus during Tuesday's trading session, with shares trading at ₹28.86, up ₹0.38 or 1.33% from the previous close as of 9:52 AM IST on June 30, 2026.
Under the proposed engagement, IVIS International is expected to deploy supply, installation, commissioning, centralized monitoring, and maintenance of security infrastructure across Manappuram Finance's branch network. As reported by the company's exchange filing, the solution will employ AI-powered Command & Control Centre platform designed to deliver intelligent surveillance, real-time event monitoring, automated alert handling and escalation, centralized branch visibility, vault operations monitoring, and end-to-end maintenance of the security infrastructure. The solution is specifically designed to provide real-time event monitoring, automated alert handling and escalation, centralised branch visibility, vault operations monitoring and end-to-end maintenance of security infrastructure.
The deployment is proposed to be executed in a phased manner and may extend to approximately 1,000+ branches, subject to the issuance of Purchase Orders and the execution of definitive agreements between the parties. According to the company's exchange filing, this represents a significant scale opportunity for IVIS International's security infrastructure services across Manappuram Finance's extensive branch network. The engagement would further strengthen IVIS' presence in the BFSI segment, where demand for intelligent surveillance and centralised security management solutions continues to grow.
While the financial value of the engagement has not yet been disclosed, investors appeared encouraged by the potential scale of the deployment and the opportunity to deepen the company's footprint in AI-led surveillance solutions for the financial services sector. However, Magellanic Cloud clarified that the LOI is non-binding and does not constitute a contractual or financial commitment. The final scope of work, commercial terms, project timelines and contract value will be determined after definitive agreements are executed and purchase orders are issued between the parties.
