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IVIS International Pvt Ltd receives LOI from Manappuram Finance Ltd
Posted On : 2026-06-30 20:05:06( TIMEZONE : IST )
IVIS International Private Limited, a wholly owned subsidiary of Magellanic Cloud Limited, has received a Letter of Intent (LOI) from Manappuram Finance Limited for the proposed engagement relating to outsourced Command & Control Centre (CCC) e-surveillance services.
Under the proposed engagement, IVIS International Private Limited is expected to deploy the supply, installation, commissioning, centralized monitoring, and maintenance of security infrastructure across Manappuram Finance Limited's branch network. Employing its AI-powered Command & Control Centre platform, the proposed solution is designed to deliver intelligent surveillance, real-time event monitoring, automated alert handling and escalation, centralized branch visibility, vault operations monitoring, and end-to-end maintenance of the security infrastructure. The deployment is proposed to be executed in a phased manner and may extend to approximately 1,000+ branches, subject to the issuance of Purchase Orders and the execution of definitive agreements between the parties.
Serving one of the country's largest gold loan institutions, with an extensive branch network handling high-value secured assets, highlights the growing industry confidence in IVIS' AI-enabled surveillance and centralized security management capabilities. The engagement also strengthens the Company's presence in the BFSI segment, where intelligent command centres, proactive threat detection, and real-time operational visibility are becoming critical components of enterprise security.
The receipt of the Letter of Intent marks an important milestone towards establishing a long-term business relationship with Manappuram Finance Limited. However, as expressly stated in the LOI, it is non-binding in nature and does not constitute a contractual or financial commitment. The final scope of work, commercial terms, project timelines, and overall contract value shall be determined upon execution of definitive agreements and issuance of the respective Purchase Orders.
