iQuippo, a Kanoria Foundation initiative, organised a simulcast auction of interest rates for facilitating financing of infrastructure equipment. The auction christened ‘Paison Ki Nilami’ witnessed participation from more than 20 original equipment manufacturers (OEMs) and 1,100 equipment owners.
The auction, in the construction equipment space in India, was held across seven locations 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 event also 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, the company release stated.
Elaborating on the event, iQuippo CEO Anant Raj Kanoria said: “Over the years, we noticed that customers want to negotiate pricing and interest rates. We, through our platform, want to digitise and make this process transparent. Through ‘Paison Ki Nilami’, we want customers and all 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 and Mahindra Finance, the release addeds.
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, an online portal, is one-of-its-kind digital marketplace for construction equipment, machinery and services, 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.