Bartronics India Limited has informed the Exchange about Bagging/Receiving of orders/contracts
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Bartronics India Limited (now renamed Avio Smart Market Stack Limited) has bagged a purchase order from Indian Overseas Bank to act as a Corporate Business Correspondent (CBC) service provider. The company will engage and manage Business Correspondent Agents (BCAs) and handle cash under the bank's Financial Inclusion Technology solution. The contract is for three years and can be renewed at the bank's discretion. Payment will be made monthly based on actual enrolment and transaction numbers reported through the bank's core banking system. No promoter or related party interest is involved, and the order is in the normal course of business. The financial value of the order has not been disclosed.
This is a new domestic service contract from a public sector bank that strengthens the company's order book in the financial inclusion space, though the absence of a disclosed order value means investors cannot yet gauge the revenue impact. Shareholders should watch for future disclosures on transaction volumes and revenues earned under this contract.