Date: June 30, 2026
LOI Announcement
IVIS International Private Limited, a wholly owned subsidiary of Magellanic Cloud Limited, has received a Letter of Intent (LOI) from Manappuram Finance Limited for outsourced Command & Control Centre (CCC) e-surveillance services.
Proposed Engagement Details
- Scope of work: Supply, installation, commissioning, centralized monitoring, and maintenance of security infrastructure across Manappuram Finance Limited's branch network
- Technology: AI-powered Command & Control Centre platform
- Services include: Intelligent surveillance, real-time event monitoring, automated alert handling and escalation, centralized branch visibility, vault operations monitoring, and end-to-end maintenance of security infrastructure
- Deployment: Proposed to be executed in a phased manner
- Scale: May extend to approximately 1,000+ branches
Strategic Significance
- Serves one of India's largest gold loan institutions with extensive branch network handling high-value secured assets
- Demonstrates growing industry confidence in IVIS' AI-enabled surveillance and centralized security management capabilities
- Strengthens company's presence in the BFSI segment
- Addresses critical components of enterprise security: intelligent command centres, proactive threat detection, and real-time operational visibility
Contract Status and Conditions
- LOI is non-binding in nature and does not constitute a contractual or financial commitment
- Final scope of work, commercial terms, project timelines, and overall contract value to be determined upon execution of definitive agreements
- Subject to issuance of Purchase Orders
- Marks an important milestone towards establishing a long-term business relationship