Avio Smart Market Stack Limited has approved a Qualified Institutions Placement (QIP) of up to ₹150 crore and a preferential allotment to acquire a further 43.44% stake in Ampivo Smart Technologies Private Limited through a share-swap arrangement.

The board meeting held on September 3, 2026, also saw the approval of the financial results for FY26 and the recommendation to appoint M/s SVRL & Co. as statutory auditors for five years.

Capital Raising and Strategic Acquisitions

The board approved raising funds via QIP for an aggregate amount not exceeding ₹150 crore in one or more tranches. The proceeds are earmarked for business expansion, working capital requirements, strategic investments in the agri-technology sector, and general corporate purposes. The issue is subject to shareholder approval via special resolution at the upcoming Annual General Meeting (AGM).

Simultaneously, the company approved the acquisition of 66,212 equity shares of Ampivo, representing 43.44% of the target entity, through a non-cash share-swap arrangement. Avio currently holds 4.67% in Ampivo; this transaction would raise its aggregate holding to approximately 48.11%.

Ampivo Acquisition Details

The preferential issue involves allotting up to 11,02,42,980 equity shares of face value ₹1 each at an issue price of ₹7.80 per share. This aggregates to ₹85.99 crore in consideration other than cash. The share-swap ratio is fixed at 1,665 equity shares of Avio for every one equity share of Ampivo.

Ampivo, incorporated in May 2022, focuses on technology-driven solutions for healthcare, rural commerce, and AI. Its turnover grew from ₹0.26 crore in FY23-24 to ₹33.19 crore in FY24-25 and ₹34.23 crore in FY25-26.

AGM and Governance Matters

The board fixed September 30, 2026, at 12:00 noon as the date for the 34th AGM, to be conducted via Video Conferencing/Other Audio Visual Means. The cut-off date for determining eligibility for remote e-voting is September 23, 2026. The remote e-voting period will run from September 27 to September 29, 2026.

The Register of Members and Share Transfer Books will remain closed on September 25, 2026, for AGM purposes. NSDL was appointed to provide e-voting facilities, and Mr. Shaik Ibraheem of M/s SI and Associates was appointed as the scrutinizer.

Auditor Appointment

Based on the Audit Committee's recommendation, the board proposed appointing M/s SVRL & Co. as statutory auditors for a five-year term from the conclusion of the 34th AGM until the conclusion of the 39th AGM. This follows a casual vacancy caused by the resignation of the erstwhile auditor, M/s Brahmayya & Co., effective November 14, 2025.

Avio Smart Market Stack Limited has entered into a strategic memorandum of understanding with ProClima Services Private Limited to jointly develop and commercialise biochar-based soil enhancement solutions. Announced on July 29, 2026, the partnership aims to advance regenerative farming and explore carbon removal opportunities across India by combining ASMS's extensive rural network with ProClima's specialisation in biochar production. This collaboration marks a significant diversification into climate-focused agricultural technology, potentially creating new revenue streams through verified carbon credits.

The collaboration focuses on developing scientifically validated biochar-integrated fertiliser formulations designed to enhance soil fertility, improve water retention, and increase crop productivity while enabling long-term carbon sequestration. The companies will undertake research, laboratory analysis proposed at IIT Roorkee, field trials, and agronomic validation across multiple crop varieties, soil types, and agro-climatic conditions. This initiative seeks to create pathways for generating verified carbon credits through biochar application, allowing farmers to benefit from emerging carbon markets.

Strategic Collaboration Details

The partnership integrates distinct capabilities from both organisations to drive commercial deployment of sustainable agricultural technologies.

Dr. Raja Krishna Murthy Morla, Head – Agri Tech Business at Avio Smart Market Stack, stated that agriculture requires solutions improving farm productivity while addressing long-term environmental challenges. He noted the aim to develop innovative biochar-based products supporting healthier soils and measurable climate impact by combining scientific research with their rural ecosystem.

Vijaykumar Rangaraju, Chief Mission Officer at ProClima Services, described biochar as a promising technology for regenerative agriculture and durable carbon removal. He emphasised that partnering with ASMS enables combining advanced climate solutions with deep agricultural reach to accelerate biochar adoption across India's farming ecosystem.

Feedstock and Research Scope

The initiative will evaluate biochar produced from sustainable feedstocks including bamboo, lantana, senna, pine needles, and agricultural residues to determine optimal formulations for commercial deployment. Both companies will work towards developing commercially viable products that support regenerative agriculture, strengthen soil ecosystems, and contribute to India's net-zero ambitions.

What This Means for Stakeholders

The partnership represents a significant diversification move for Avio Smart Market Stack into climate-focused agricultural technology. By leveraging its existing presence in more than 5,000 villages, ASMS positions itself to distribute scientifically validated soil enhancement solutions directly to end-users. For investors, the collaboration signals a strategic pivot towards sustainable agriculture and carbon markets, sectors gaining traction amid global focus on net-zero goals. The potential for verified carbon credit generation introduces a new revenue stream linked to environmental outcomes, aligning agricultural productivity with climate action objectives.