Markets

mjunction conducts e-auction for Rs 700-cr commercial paper issue by SAIL

Our Bureau Kolkata | Updated on January 12, 2018

mjunction Services, India’s largest B2B e-commerce company, has successfully conducted an e-auction for commercial papers worth Rs 700 crore for the Steel Authority of India Ltd (SAIL).

According to SAIL, the e-auction conducted by mjunction has led to better price discovery. The process is structured, less time consuming, and offers the scope for greater participation and above all is transparent.

“We have the most technologically-advanced platform as an electronic book provider (EBP) for debt market instruments such as commercial papers or bonds. From initiating bids till final issuance, our platform is completely automated, ensuring total transparency to all stakeholders,” Vinaya Varma, CEO, mjunction, was quoted as saying in a release issued by the company.

Published on January 24, 2017

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