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mjunction conducts e-auction of commercial papers worth Rs 700-crore for SAIL

| | Jan 20, 2017, at 10:38 pm
#mjunction #SAIL
Kolkata, Jan 20 (IBNS): mjunction services limited, India’s largest B2B e-commerce company, successfully conducted yesterday an e-auction for commercial papers (CPs) worth Rs 700 crore for Steel Authority of India Limited (SAIL).

For SAIL, this was a significant step towards adopting a business practice that is completely technology-driven, and thus a step forward in the government’s Digital India programme.

SAIL said: “For SAIL, this e-auction conducted by mjunction of commercial papers has led to better price discovery. The process was structured, less time consuming, has a scope for greater participation and above all transparent.”

Vinaya Varma, mjunction CEO said, "We have the most technologically-advanced platform as an electronic book provider (EBP) for debt market instruments like commercial papers or bonds. From initiating bids till final issuance, our platform is completely automated ensuring total transparency to all stakeholders."

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