Major BFSI Milestone: Magellanic Cloud’s IVIS Bags ₹18.4 Crore E-Surveillance Order for 1,000 PNB ATMs
Hyderabad, August 12, 2026
Hyderabad, August 12, 2026: Magellanic Cloud Limited (NSE: MCLOUD | BSE: 538891) today announced that its wholly owned subsidiary, IVIS International Private Limited (IVIS), has secured multiple Purchase Orders from NCR Corporation India Private Limited for the deployment of E-Surveillance Solutions across Punjab National Bank (PNB) ATM sites.
The Purchase Orders, comprising both Capex and Opex components, have an aggregate value of approximately ₹18.4 crore over a period of five years and cover the deployment of E-Surveillance Solutions across 1,000 PNB ATM sites nationwide.
The order further strengthens Magellanic Cloud’s growing presence in the Banking and Financial Services (BFSI) E-Surveillance segment, while reinforcing IVIS’s capabilities in executing large-scale, technology-led security deployments across geographically distributed banking networks.
Boosting BFSI E-Surveillance Capabilities
The deployment represents a significant opportunity to expand AI-enabled security infrastructure across a large ATM network. With both Capex and Opex components, the engagement encompasses technology deployment as well as ongoing services, supporting a comprehensive approach to E-Surveillance.
IVIS brings over 1.5 decades of experience in delivering E-Surveillance solutions for banking networks and critical financial infrastructure. The latest order further builds on this domain expertise and strengthens Magellanic Cloud’s ability to address the evolving security requirements of financial institutions through scalable, technology-led solutions.
Commenting on the development, Mr. Joseph Sudheer Reddy Thumma, Chairman & Managing Director, Magellanic Cloud Limited, said:
“BFSI has been a key focus for IVIS over the years, and we have built significant experience in delivering E-Surveillance solutions for banking networks and critical financial infrastructure over the last 1.5 decades. The receipt of these Purchase Orders for E-Surveillance Solutions across Punjab National Bank ATM sites further strengthens this track record and demonstrates our ability to execute scalable, technology-led E-Surveillance deployments across large and distributed networks. We remain focused on leveraging our proven domain expertise, AI-enabled e-surveillance capabilities and pan-India deployment strength to further deepen our presence in the BFSI segment and address the evolving security requirements of financial institutions.”
Key Highlights
- ₹18.4 crore – Aggregate value of Purchase Orders over five years
- 1,000 PNB ATM sites – Nationwide deployment coverage
- BFSI expansion – Further strengthens Magellanic Cloud’s presence in banking and financial infrastructure security
- Capex + Opex engagement – Covers both deployment and ongoing services
The order underscores Magellanic Cloud’s continued focus on expanding its presence in critical infrastructure and BFSI security through AI-enabled E-Surveillance solutions, while leveraging its pan-India deployment capabilities and established domain expertise.
About Magellanic Cloud Limited
Magellanic Cloud Limited (NSE: MCLOUD | BSE: 538891), headquartered in Hyderabad, India, is a global technology company specialising in digital transformation, Generative Artificial Intelligence (AI), cloud computing, e-surveillance, and drone technologies. The company delivers advanced solutions across industries, including smart infrastructure, defence, fintech, and enterprise IT, serving over 100 clients across the USA, Europe, and Asia.
With a strong ecosystem of subsidiaries – Motivity Labs, Provigil Surveillance Limited, IVIS International, Scandron, MCRAYXTEND India and JNIT Technologies, Magellanic Cloud offers integrated capabilities across IT services and AI-driven surveillance systems. Its solutions are widely deployed in critical infrastructure projects, including railways, highways, BFSI, PSUs and urban security systems.
The company is backed by a team of over 1,600 professionals and has achieved CMMI Maturity Level 3 certification.
