Magellanic Cloud Limited has informed the Exchange regarding Outcome of Board Meeting held on March 24, 2026.

MCLOUD · price

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Price reaction · full curve 14 horizons · vs prior close

-3.3%1-day move

₹21.15

prior close

₹21.55

base price

After-mkt

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+0.6+0.2+0.2-0.0-3.3-5.7-1.8+0.4+5.0+23.2+24.0+27.6+27.0+27.8

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AI summary

The board of Magellanic Cloud Limited approved participating in a rights issue of its subsidiary, Scandron Private Limited (SPL). The company may subscribe to up to 56 lakh equity shares of face value ₹10 each at ₹100 per share, committing up to ₹56 crore in total. The actual number of shares and final investment amount will be decided later based on commercial considerations. SPL is a private subsidiary of the listed parent company, and further disclosures will be made after the allotment is completed.

Likely market impact

The parent company is committing up to ₹56 crore of capital into its private subsidiary, which could impact its cash reserves and balance sheet strength. Since SPL is not a listed entity, no open offer obligations are triggered for Magellanic Cloud shareholders, and the impact on the stock price is likely neutral to mildly negative depending on how the funding is financed.