Definition

We have built a large buyer community for our e-selling services, who are regular participants in our e-selling events. We have introduced a working capital finance scheme to our buyer community to enable them to access finance through us at competitive costs so as to facilitate auction material purchases. This has been offered by partnering with leading private sector banks in the country.

Presently following Sellers are covered:

• Tata Steel


• Steel Authority of India Limited


• Bokaro Steel Plant


• Alloy Steel Plant


• Salem Steel Plant

Objective

• Increased "NR" for sellers due to competitive cost of funds


• Increased "Buyer Base" for sellers due to easy availability of funds


• Disintermediation of unorganized players acting as financial intermediaries to bring about financial discipline in the entire supply chain

Value Proposition (Auction Participants / Buyers)

• Competitive cost of funds


• Easy one time documentation


• Online transfer of money to the seller


• No courier or demand draft charges


• Limits can be increased based on business needs


• No collateral security required (up to specified limit)


• Increased buying power due to added liquidity


• Sufficient time to repay the loans

Role of financejunction

• Market making for the Auction Participants


• Document collection from Eligible Bidders


• Liaison with Partner Banks for Limit Setting


• Authorization of Mandates for disbursement


• Ensure Payment Discipline for the programme

Achievements

• Number of Bidders on Board 50


• Transaction Value of 350 Crs


• Multiple Partner Banks & Financial Institutions tied up with Online Disbursement mode for selected Auction Partcipants


• Good Payment Track Record