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Magellanic Cloud and Rayonix Tech jointly incorporate SPV 'MCRAY'

Magellanic Cloud and Rayonix Tech has jointly incorporated a Special Purpose Vehicle (SPV) in the name of MCRAY XTEND INDIA (MCRAY). The SPV has been incorporated in furtherance of the Strategic Investment and Collaboration Agreement executed between the Company and Rayonix Tech for carrying out activities relating to unmanned aerial vehicle (UAV) technology, defence technology solutions, manufacturing, deployment, and other allied business operations.