Kinex India Private Limited has announced the sale of a significant stake in Bartronics India Limited, disclosing the transaction under SEBI's substantial acquisition regulations. The sale represents a notable reduction in the promoter's shareholding in the technology company.

Transaction Details

The disclosure reveals comprehensive details of the equity stake sale:

Shareholding Changes

The transaction has resulted in a significant change in Kinex India's ownership structure in Bartronics India:

Regulatory Compliance

The disclosure was made under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Oleti Chaitanya Siva Prasad, Director of Kinex India Private Limited with DIN 10910283, signed the regulatory filing submitted to both BSE Limited and National Stock Exchange of India Limited.

Company Structure

Bartronics India Limited's equity structure remains unchanged following the transaction:

The filing confirms that Kinex India Private Limited has no persons acting in concert and maintains its position as a significant shareholder in Bartronics India Limited despite the stake reduction. The company's shares continue to be listed on both major Indian stock exchanges, providing liquidity for such transactions.

Avio Smart Market Stack Limited (formerly known as Bartronics India Limited) has received a purchase order from Indian Overseas Bank for Corporate Business Correspondent (CBC) services under the bank's Financial Inclusion Technology initiative. The company announced this development through a press release on March 30, 2026, following the initial contract disclosure.

Contract Scope and Implementation

The purchase order encompasses comprehensive CBC services including engagement, deployment, and management of Business Correspondent Agents (BCAs), along with cash handling and field-level service delivery. The contract was awarded following the company's participation in the bank's RFP process.

Operational Framework and Technology Integration

Under the mandate, Avio Smart Market Stack will undertake end-to-end responsibility for onboarding, training, and monitoring of BCAs while ensuring compliance-driven delivery of banking services across rural and semi-urban locations. The deployment will be supported by technology infrastructure including micro-ATMs, biometric authentication devices, and integration with the bank's financial inclusion systems.

The engagement is expected to scale up to approximately 500 banking touchpoints over the contract tenure, strengthening last-mile service delivery across the bank's operational regions. The company currently operates a wide network spanning over 5,000 villages, delivering banking and financial services to underserved communities.

Financial Structure and Business Impact

The contract establishes a performance-based payment structure where compensation will be released monthly based on actual numbers of enrollments and transactions reflected in reports from the bank's CBS server. This arrangement aligns the company's revenue with service delivery performance and transaction volumes.

The program is expected to generate employment opportunities through onboarding of local BCAs and field support personnel, contributing to livelihood creation and strengthening grassroots-level banking infrastructure. Through its correspondent operations, the company facilitates account opening, cash deposits and withdrawals, remittances, Aadhaar-enabled payment services (AePS), and access to government benefit schemes.

Management Commentary and Strategic Positioning

Commenting on the development, Mr. N. Vidhya Sagar Reddy, Managing Director, stated: "We are pleased to receive this Purchase Order from Indian Overseas Bank, which reflects the Bank's confidence in our execution capabilities and technology-driven approach to financial inclusion. This engagement strengthens our commitment to delivering reliable and scalable CBC services, while expanding access to essential banking solutions across underserved regions of the country."

The company confirmed that this contract falls within normal course of business activities and does not constitute a related party transaction, ensuring arm's length transaction compliance under SEBI listing regulations.