Magellanic Cloud Limited disclosed that its wholly owned subsidiary, Provigil Surveillance Limited, has emerged as the L1 (lowest) bidder in a tender issued by Bank of Maharashtra for e-surveillance solutions.
The bid value is approximately ₹115 crore for providing surveillance solutions across more than 1,550 sites. The scope of work includes supply, installation, and commissioning of e-surveillance systems along with operation of a 24/7 Central Monitoring Station.
The award of the contract remains subject to the issuance of a formal order by Bank of Maharashtra. This development represents a significant opportunity for Provigil and would strengthen the company's presence in the Banking, Financial Services and Insurance (BFSI) e-surveillance segment upon award.
The bid is in the ordinary course of business of Provigil and aligns with its core business of providing integrated surveillance, telecommunications and security infrastructure solutions. The company remains committed to pursuing similar opportunities across BFSI, transportation, government, and critical infrastructure sectors.
The disclosure was signed by Joseph Sudheer Reddy Thumma, Chairman & Managing Director (DIN: 07033919), and filed with both BSE Limited and National Stock Exchange of India Limited.