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.

Avio Smart Market Stack has issued a corrigendum to the notice of its 34th Annual General Meeting, revising the terms of its proposed preferential issue of equity shares. The revision follows observations from the National Stock Exchange (NSE) regarding the pricing basis, resulting in a slight adjustment to the issue price and total share count.

Revised preferential issue details

The company initially sought shareholder approval for the issuance of 11,02,42,980 equity shares at a price of ₹7.80 per share. Under the revised terms disclosed in the corrigendum dated September 25, 2026, the number of shares to be issued increases to 11,13,02,372, while the issue price decreases to ₹7.73 per share. Consequently, the aggregate amount of the preferential issue stands at ₹85,98,99,866.

The preferential allotment is linked to the acquisition of 66,212 equity shares of Ampivo Smart Technologies Private Limited, representing 43.44% of its equity share capital. The acquisition consideration is non-cash, with Avio Smart issuing its own shares to the Ampivo shareholders.

Pricing basis and regulatory compliance

The original valuation report considered trading data from the Bombay Stock Exchange (BSE), determining the price at ₹7.80 based on the higher of the 90-day and 10-day Volume Weighted Average Price (VWAP). However, the NSE directed the company to consider the exchange with higher trading volume. Since NSE accounted for 90.33% of the trading volume compared to BSE's 22.60% during the preceding 240 trading days, the registered valuer revised the valuation to use NSE data.

The revised price of ₹7.73 is derived from the higher of the 90-day VWAP on NSE (₹7.7258) and the 10-day VWAP on NSE (₹7.00). The valuer also confirmed that values under the Income Approach (₹0.98) and Cost Approach (₹1.12) were lower than the Market Approach, leading to a 100% weightage assignment to the market-based valuation.

Impact on shareholding pattern

The preferential issue will result in significant dilution of existing promoter holding. Kinex India Private Limited, the promoter group entity, currently holds 65.82% of the company. Post-issue, this stake will dilute to 48.21%, although the company states there will be no change in control as the new allottees are classified as non-promoters.

The public shareholding is expected to rise from 34.18% to 51.79%. The major beneficiaries of the allotment include Satyapoorna Chander Yalamanchili, who holds the largest stake in Ampivo and will receive 10,08,60,000 shares of Avio Smart, representing 24.33% of the post-issue capital.

Strategic context: Digital agriculture expansion

This financial restructuring occurs alongside Avio Smart’s ongoing strategic initiatives in the digital agriculture sector. Recently, the company entered into a Memorandum of Understanding (MoU) with Ampivo Smart Technologies to deepen their collaboration on digital farming services. The partnership aims to introduce Ampivo’s digital agriculture platform, Agri Kisan Setu, across identified villages within Avio Smart’s established rural network.

Partnership overview

The collaboration between Avio Smart Market Stack and Ampivo is aimed at strengthening digital farming capabilities and improving service delivery to farming communities in rural India. The partnership focuses on leveraging digital tools and platforms to address the needs of farmers operating in underserved rural areas. As part of its broader expansion strategy, Ampivo is working with Farmer Producer Organizations (FPOs), NGOs, institutions, and other ecosystem partners across India to extend its digital agriculture platform to a larger farmer base. The proposed collaboration with Avio Smart is an important part of this expansion, providing an opportunity to introduce the platform across Avio Smart’s established rural network.

Focus on rural agricultural communities

The initiative targets rural India, where access to modern agricultural services and digital infrastructure has historically been limited. Through this partnership, Avio Smart Market Stack and Ampivo aim to bridge this gap by bringing enhanced digital farming solutions directly to farming households. Ampivo has independently developed and launched its agriculture application, Agri Kisan Setu, available on the Google Play Store in seven languages. The platform is already being used in villages where Ampivo is conducting farmer trainings and pilot programmes, enabling the company to gather on-ground feedback and continuously refine its technology, content, and service workflows.

Platform capabilities and sustainability goals

Ampivo’s platform supports agri enterprises by providing access to modern farm tools, farm management assistance, and agricultural commodity-wise market information. It brings together key agricultural services through a unified digital interface, including market price discovery, buyer and seller connectivity, agricultural knowledge, tutorials, government-scheme information, and specialized services such as drone services. These tools are designed to improve farm productivity, decision-making, supply chain efficiency, and streamline farm operations, reduce costs, and enhance farm income.

The platform is also being developed to support carbon credits and digital Measurement, Reporting, and Verification (DMRV), with the objective of enabling farmers to participate in eligible sustainability and carbon reduction-linked programmes. Additionally, Ampivo is developing digital workflows to help farmers find government schemes and entitlements relevant to their location, profile, and agricultural activities.

Executive commentary

N. Vidhya Sagar Reddy, Managing Director, Avio Smart Market Stack Limited, stated that the company is focused on building an ecosystem that connects rural communities with markets, technology, financial services, and new economic opportunities. He noted that while Ampivo has developed and deployed a live digital agriculture platform, the collaboration allows them to extend these capabilities across network villages, leveraging Avio Smart’s rural reach and Ampivo’s technology to provide farmers with easier access to agricultural information, services, markets, and emerging sustainability opportunities.

Anupam Shah, Chief Operating Officer, Ampivo Smart Technologies, highlighted that the company has progressed from technology development to live deployment. He mentioned that their multilingual and configurable platform is designed to adapt to different geographies, crops, and farmer requirements. The partnership with Avio Smart provides an important opportunity to take Ampivo to a much larger rural ecosystem through collaborations with FPOs, NGOs, and institutions across India.