Magellanic Cloud signs ₹150 Cr defence UAV JV with Rayonix Tech

Marquee Jv AnnouncedStrategic Transactions View source PDF

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AI summary

Magellanic Cloud has signed a Strategic Investment & Collaboration Agreement with Rayonix Tech Pvt Ltd to manufacture and commercialise warfare-grade UAVs and drones for India's defence sector. A Special Purpose Vehicle (SPV) will be incorporated to execute the partnership, focusing on local manufacturing, deployment, and scaling of autonomous drone tech for surveillance, reconnaissance, and tactical operations. Deal size: up to ₹150 Crore (CapEx + OpEx). No change in management control; not a related party transaction.

Likely market impact

Strategic entry into India's defence drone space via JV; ₹150 Cr investment commitment could lift growth outlook but also raises capex risk.