Magellanic Cloud Ltd

We wish to inform you that Magellanic Cloud Limited has issued a Letter of Intent(LOI) for the acquisition of an Indian-based Fintech company. The estimated purchase price for the acquisition is INR 32 Crores subject to the satisfactory completion of the ongoing due diligence process. The company plans to finalize the Share Purchase Agreement (SPA) on or before March 15th 2025 and final terms and conditions as outlined in the LOI will need to be accepted.We will disclose further details in accordance with SEBI (LODR) Regulation 2015 once the SPA as formalized and all terms are agreed upon.