Magellanic Cloud board approves merger of wholly owned subsidiary IVIS International

Nclt Scheme FiledStrategic Transactions View source PDF

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Price reaction · full curve 14 horizons · vs prior close

+13.1%1-day move

₹27.04

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₹28.40

base price

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AI summary

Board approved merger of wholly owned subsidiary IVIS International Private Limited (surveillance and monitoring services) into Magellanic Cloud. Appointed date is April 1, 2026. Since IVIS is wholly owned, no new shares will be issued and shareholding pattern remains unchanged. Scheme needs NCLT sanction. Separately, board approved preferential issue of 3,74,28,573 equity shares and 12,67,00,000 convertible warrants at Rs 30 each, raising about Rs 492 crores. EGM set for July 24, 2026.

Likely market impact

Merger streamlines operations with no share dilution. Preferential issue may dilute equity if warrants are converted within 18 months.