mjunction services limited, India’s largest B2B eCommerce company,successfully conducted yesterday an eAuction 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 eAuction 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.”
Mr 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.”
About the company: mjunction services limited, India’s largest B2B eCommerce industry and a joint venture of TATA Steel and SAIL, was founded in February 2001. It offers a wide range of eSelling, eSourcing, eFinance, eRetail and knowledge services across diverse industry verticals that empower businesses with greater process efficiencies. mjunction is a ISO 9001:2008, ISO 27001:2005 and a CMMI Level 5 certified company.