Avio Smart Market Stack Limited passed all resolutions at its 34th Annual General Meeting, including a special resolution to raise up to ₹150 crore through a Qualified Institutions Placement.

The meeting was held on September 30, 2026, via video conferencing. Shareholders approved the adoption of audited financial statements for FY26 and the re-appointment of key directors and auditors.

Capital raising and corporate actions

The most significant approval was the special resolution authorizing capital raising by issuance of equity shares through a Qualified Institutions Placement (QIP) for an aggregate amount up to ₹150 crore. This move signals the company's intent to strengthen its balance sheet or fund expansion initiatives.

Additionally, shareholders approved a preferential issue of equity shares to the shareholders of Ampivo Smart Technologies Private Limited for consideration other than cash. This indicates a strategic consolidation or acquisition activity involving Ampivo Smart Technologies.

Governance and appointments

The AGM also addressed governance matters. Ms. Vilasitha Dandamudi was re-appointed as a director in place of her retirement by rotation. Mr. N. Vidhya Sagar Reddy was re-appointed as Managing Director. The appointment of M/s SVRL and Co., Chartered Accountants, as statutory auditors was also ratified by the members.

Voting results overview

All resolutions were passed with overwhelming majority support from voting members. The table below summarizes the voting outcomes for key special resolutions:

What the numbers show

The near-unanimous support for both the QIP and the preferential issue suggests strong alignment between management and major shareholders on the company's strategic direction. The simultaneous approval of external capital raising (QIP) and internal equity swap (preferential issue) points to a dual-track approach to funding growth and consolidating ownership structures.

Avio Smart Market Stack has entered into a partnership with Huwel Lifesciences to expand access to compact RT-PCR testing across India.

Partnership details

The collaboration aims to broaden the reach of compact RT-PCR testing solutions throughout the country. As part of the initiative, the two companies plan to develop sales infrastructure and a distribution network to support wider deployment of the technology. Specifically, they will establish a dedicated sales and distribution infrastructure, including the recruitment of senior sales leadership, formation of specialised sales teams, and development of strategic channel partnerships.

The partnership reflects an effort to make RT-PCR testing more accessible across diverse geographies within India through a structured commercial and logistical framework.

Commercial strategy and product focus

The initiative will initially focus on Cubo, Huwel's ultra-compact RT-PCR system, while creating opportunities to commercialise Huwel's broader molecular diagnostics portfolio. The commercialisation strategy targets private hospitals, diagnostic chains, independent laboratories, medical colleges, research institutions, and other healthcare establishments.

Cubo is designed to enable RT-PCR testing beyond conventional centralised laboratory environments. Its ultra-compact design allows molecular diagnostic capabilities to be considered for smaller and more decentralised healthcare settings, potentially reducing dependence on large centralised facilities. This approach is particularly relevant to India's healthcare landscape, which spans metropolitan centres as well as a large and geographically distributed network of Tier-II and Tier-III cities, hospitals, and diagnostic facilities.

Beyond instrument deployment, Avio Smart Market Stack and Huwel intend to develop an ecosystem around the platform, comprising compatible molecular assays and consumables that can support recurring testing requirements. Huwel's capabilities across molecular diagnostic applications could enable Cubo installations to serve multiple testing needs rather than being limited to a single application.

Leadership commentary

N Vidhya Sagar Reddy, Managing Director of Avio Smart Market Stack, stated that the next phase of the collaboration is focused on building the commercial infrastructure needed to take advanced molecular diagnostic technologies to a much wider customer base. He noted that Cubo's compact format creates an opportunity to bring RT-PCR capabilities closer to hospitals, laboratories, and other healthcare providers, including those outside the traditional centralised laboratory ecosystem.

The proposed sales organisation will work across direct sales and channel partnerships, supported by product demonstrations, installation support, and ongoing customer engagement. For Avio Smart Market Stack, the initiative represents an opportunity to build its presence in healthcare and diagnostics through indigenous technologies, while Huwel gains additional commercial reach and execution capabilities to support the wider adoption of its products.