Tag Archives: auction

PubTok Art will bring together the artist & connaisure of art

Newsroom24x7 Network

“Mirabai” Rajasthani painting Oil on Canvas Size 30″x42″

New Delhi: After the successful launch of PubTok Vlog and Youtube channel, Newsroom24x7 has now floated PubTok Art as a trusted platform for both commercial and benefit auctions of art pieces.

PubTok Art will generate revenue for artists, museums, not for profit organizations and charitable causes.

PubTok Art promoter Newsroom24x7 has a global following running into hundreds of thousands.

PubTok Art is committed to providing global audience of art lovers throughout the world across web and mobile, with the help of search traffic, and also collector traffic through other sources.

List of Coal Mines for sale of coal amended; 38 coal mines for auction

Newsroom24x7 Network

New Delhi: The auction process for coal mines for commercial mining was launched on June 18, 2020. The list of coal mines offered in the process of opening up of coal sector and introduction of coal mining has been revised by the Union Coal Ministry.

With the addition of Dolesara, Jarekela and Jharpalam-Tangarghat Coal Mines to the 1st Tranche of Auction under the MMDR Act, 1957; Withdrawal of Morga South Coal Mine from the 1st Tranche of Auction under the MMDR Act, 1957; and Withdrawal of Fatehpur East,Madanpur (North), Morga-II, and SayangCoal Mines from the 11th Tranche of Auction under the CM(SP) Act, 2015 – 38 coal mines are being offered for auction for commercial mining under 11th Tranche of Auction under CM(SP) Act, 2015 and 1st Tranche of Auction under MMDR Act, 1957.

Ministry of Coal launched the auction process for 41 coal mines under 11th Tranche of Auction under CM(SP) Act, 2015 and 1st Tranche of Auction under MMDR Act, 1957. The updated list of mines and the tender documents for these mines may be accessed through the following link: https://www.mstcecommerce.com/auctionhome/coalblock/index.jsp. Timelines for the tender process have also been provided on the website of MSTC Limited.

Whopping sum of money for a number plate

Shaily Kalra

d5-number-plateDubai: It was a jaw dropping moment for many when Balwinder Sahani, Dubai based Indian businessman, bought the number plate “D5” for Dh 33 million (₹ 60 crores) at a momentous Roads and Transport Authority’s number plate auction joined by more than 300 bidders here this weekend.

The auction was held for eighty unique car number plates. The Bids for the ‘D5’ plate started at Dh 20 million.

Sahani, who has a passion for number plates bought number ‘O9’ for 25 million dirhams (₹ 48 crores approx) at an auction last year. Sahani is also known as Abu Sabah, he is the owner of RSG International (Raj Sahani Group International).

Sahani said he has a collection of 10 such number plates and as this is his passion he will add more such car plates into his collection.

Another number plate – Q77 was bought by an Emirati bidder for Dh 4.52 million. plates like P27 and R 7777 also attracted huge sums of money.

The proceeds from Saturday’s auction will go to Dubai’s Roads & Transport Authority.

Indian telecoms auction to witness intense bidding

Newsroom24x7 Desk

telecoms auctionThe Indian telecoms auction starting today is likely to see intense bidding by telcos to retain their existing spectrum and to acquire new spectrum as supply is limited, says Fitch Ratings.

Telcos, according to Fitch, are likely to commit at least USD 13bn in the auctions – over 75% of which is likely to be contributed by the top-four telcos. Most telcos’ net debt will rise to fund spectrum payments while competition limits their ability to raise tariffs, particularly with the impending entry of a new competitor, Reliance Jio.

The top-three telcos – Bharti Airtel (Bharti, BBB-/Stable), Vodafone India and Idea Cellular – could commit around USD2.5bn-4.5bn each to renew their expiring spectrum in six, seven and nine Indian “circles” (i.e. regions), respectively. They are also likely to acquire additional spectrum to support fast-growing data services.

Idea is most exposed to the auctions as it needs to retain its expiring spectrum in circles which contribute around 70% of its annual revenue. Such revenue contributes 45% and 35% of annual Indian revenue for Vodafone and Bharti, respectively. Telcos whose 900MHz spectrum is expiring will prefer to retain this bandwidth, as having to switch frequencies could require significant capex and disruption of the already-established network.

Reliance Communications Limited (Rcom, BB-/Stable) will be the least affected of the top four, as Fitch believes it is likely to commit a maximum of USD667m in seven circles, where we expect competition for spectrum will be lower. Rcom’s management expects this cost to be lower.

We expect Bharti’s and Rcom’s ratings to remain unchanged, as their 2015 funds flow from operations (FFO)-adjusted net leverage is likely to remain below 2.5x and 5.0x, respectively, following the auction. Most telcos have already raised equity or monetised assets in anticipation of spectrum auctions. During 2014, Bharti, Idea and Rcom raised about USD2.5bn, USD625m and USD1bn apiece through either equity and/or asset sales. Cash flows will still be manageable, as telcos have the option to pay spectrum cost in phases, with one-quarter upfront and the balance over 10 years.

Reliance Jio (part of Reliance Industries Ltd (BBB-/Stable)) which plans to roll out its services in 2015 with an investment budget of USD12bn, is likely to fill its spectrum gaps in the 1,800MHz band. We feel it will probably focus on data services using “long-term evolution” technology, with its ownership of 1,800MHz spectrum in 14 circles and a pan-India spectrum in 2,300MHz. However, as occasionally seen in the earlier auctions, Reliance Jio could push up the spectrum price in 900MHz for other telcos, if it chooses to do so, as the auction mechanism hides the identities of participants.

Eight operators are likely to bid for a total of 465MHz of spectrum across four bands – 800MHz, 900MHz, 1,800MHz and 2,100MHz – where each band is valid for 20 years. Bidding is likely to be most intense for the 900MHz band, which can be used for both 2G and 3G, as signals can travel further and provide better indoor coverage than higher frequencies. We believe that the 900MHz auction price could rise at least 20% higher than the reserve price.