Avio Smart Market Stack Signs Agreement with Huwel Lifesciences
Filing Summary
Avio Smart Market Stack Limited (ASMS), formerly Bartronics India Limited, has signed a Share Subscription cum Shareholders’ Agreement with Huwel Lifesciences. ASMS will acquire a minority stake in Huwel and collaborate on business development and project execution. Huwel’s Quantiplus® MTB FAST platform, assessed by the Department of Health Research, offers cost-effective tuberculosis testing. This collaboration aligns with ASMS’s strategic entry into the healthcare sector. The agreement follows a Memorandum of Understanding signed in September 2025.
On March 2, 2026, Avio Smart Market Stack Limited (ASMS), formerly known as Bartronics India Limited, announced the signing of a Share Subscription cum Shareholders’ Agreement with Huwel Lifesciences. This agreement follows a Memorandum of Understanding signed between the parties in September 2025.
Under the terms of the agreement, ASMS will acquire a minority stake in Huwel. The collaboration will focus on business development and project execution. ASMS is contractually entitled to receive a defined share of the net project revenues from orders secured and executed through its institutional engagement and business development efforts.
Huwel Lifesciences’ tuberculosis diagnostic platform, Quantiplus® MTB FAST, has undergone a Health Technology Assessment by the Department of Health Research under the Ministry of Health & Family Welfare, Government of India. The assessment evaluated molecular tuberculosis diagnostic platforms deployed nationwide. The Quantiplus platform enables testing at an approximate cost of ₹340 per sample, compared to ₹700 to ₹1,000 for systems currently used in government programs. The platform’s compatibility with open RT-PCR systems allows the government to utilize existing RT-PCR machines installed during the COVID-19 response, facilitating rapid deployment without significant additional capital expenditure.
India conducts approximately one crore tuberculosis tests annually under the National TB Elimination Programme. The annual molecular TB diagnostics market is estimated at around ₹1,000 crore. The Health Technology Assessment positions Huwel Lifesciences’ Quantiplus platform as a potential monopoly within the public molecular TB diagnostics segment. Central and state procurement authorities can now evaluate the platform for wider adoption under the National TB Elimination Programme.
About Huwel Lifesciences: Huwel Lifesciences focuses on developing cost-effective diagnostic solutions, particularly in the field of molecular diagnostics. The company aims to enhance healthcare accessibility through innovative technologies.
About Avio Smart Market Stack Limited: ASMS has strategically expanded into the high-growth health-tech sector. The company is building India’s largest unified rural operating system, integrating financial inclusion, agriculture, rural commerce, climate solutions, and healthcare to digitally empower farmers and underserved communities across the country.