Shriram
properties, part of the Chennai based business
conglomerate shriram group has announced the
appointment of MatexNet as its e-auctioneer for sale
of standard motors plant and machinery in Chennai.
MatexNet is engaged in business-to-business
e-auction services.
MatexNet
will execute the largest single location sale
through e-auction. The e-auction for the standard
motor property will be held on september27.
According to a statement. The standard motor site
contained over 60 sheds and 1,000 pieces of
machinery at an estimated Rs.32 crore of transaction
value. which have been segregated into lots and
grouped to provide optimum value to potential
buyers.
M. Murali, Managing director, Shriram properties
Ltd, Said MatexNet’s experience in handling
large and complicated projects would add value in
terms of transparent and efficient processes thereby
helping in realising higher value for the
transaction
MatexNet To e-auction Standard Motor's Assets
Shriram properties has appointed MatexNet to
e-auction the plant and machinery at the
standard motors factory premises. The plant and
machinery has been valued at Rs.32 crore.
The e-auction will be held on September 27 and over
400 potential bidders have registered. The
earnest money deposit for the entire lot is Rs 2
crore, Mr.s.Jaganni vassan, Manging director,
MatexNet, said.The upset price will be decided
nearer the date of the auction.
He
said that this was the largest single location
sale through e-auction that MatexNet has been
mandated for.
The
standard motors assets are spread over the
58-acre site.
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