iQuippo organises Paison Ki Nilami
iQuippo, a Kanoria Foundation initiative,organised Paison Ki Nilami (“PKN”), a mega simulcast auction of interest rates for facilitating financing of infrastructure equipment that witnessed participation from more than 20 original equipment manufacturers (“OEMs”) and 1,100 equipment owners.
The auctioning event, considered to be the largest in the construction equipment space in India, was held across sevenlocations through webcast and allowed iQuippo’s customers an opportunity to bid for the lowest lending rates for purchasing of infrastructure equipment from different geographies. The eventalso provided a platform to iQuippo’s OEM, banking, non-banking and insurance partners to showcase their products and services to customers from Hyderabad, Kolkata, Mumbai, Pune, Nagpur, Jaipur and Ahmedabad.
Commenting on this occasion, Mr. Anant Raj Kanoria, CEO, iQuippo, said: “We have noticed that in the market customers always want to negotiate pricing and interest ratesand we through our platform want to digitise and make this process transparent. Therefore, through’Paison Ki Nilami’we want the customers and all the stakeholders to feel that they have got the best deal in the market and we have been able to create value and a win-win situation for all.”
The equipment pool comprised of internationally acclaimed brands of excavators, tippers, loaders, motor graders and other infrastructure equipment from leading manufacturers like Komatsu, JCB, Puzzolana, Volvo Equipment, SANY and many others. The financial partners included leading banks like Bank of Baroda, ICICI, Axis Bank, Syndicate Bank, Oriental Bank of Commerce, and United Bank of India, as well as non-banking finance companies such as Srei Equipment Finance Limited and Mahindra Finance.
The event also offered a plethora of options to explore other services offered by iQuippo including machinery evaluation, purchase/replacement of spare parts, options for parking and logistics facilities etc.
iQuippo, a Kanoria Foundation initiative,is India’s first and a one-of-its-kind digital marketplace for construction equipment, machinery and services. The 360 degree platform facilitates buying, selling, and leasing of equipment; asset certification; machinery evaluation; financing and insurance of equipment; auctioning; parking and logistics facilities; yard management; spare parts and other asset related services.
The platform allows buyers and sellers to interact, negotiate and close transactions in a timely, transparent and cost-effective manner. With over 70,000 customers and over $400 Million loans disbursed iQuippo is the preferred mode of transacting for players and stakeholders across the infrastructure industry.