 Classifieds |  Post and  Browse ads from various other categories |
|
|  | The Financial Express
You are here:Home > Press > The Financial Express
|
Wednesday, Oct 20, 1999
In a bid to net more profitable deals during an auction, financial institutions have turned their attention to the medium of Internet advertising. Institutions such as ICICI, IDBI and their ilk have logged on to auctioning on the net to close better deals.
Even government organisations such as Board of Industrial and Financial reconstruction (BIFR) and the customs department are reported to be seriously considering the option of net auctioning of industrial assets that come up for sale with them apart from the regular medium of print.
Industrial development institutions of the neighbouring states such as Andhra Pradesh Industrial Development Corporation (APIDC) and SICOM Ltd. (formerly state industries corporation of Maharashtra), it is learnt, have already chalked out a blue print for net advertising.
With the growing interest of these institutions in the area of net advertising, Chennai based Cyber Commerce Private Limited, the developers of the Indian auction site - auctionindia.com have drafted a negotiated sale model encompassing advertising in the media of print and Internet for sale of their assets.
The model will have a twin advantage of optimising both the media, says C E Karunakaran, Managing Director, Cyber Commerce Pvt. Ltd., It will lead the print ads, which have undisputable wider reach, to the Internet sites which will provide more information on the units that are up for sale, he says.
With the availability of more space on the net a complete description of the items can be given. Even the first stage of the filtering of the interested parties can be done at the site itself with a predesigned qualifying form, he claims.
The company has already made presentations about the new model to a few institutions in the state. The response with the government firms though not very encouraging, is quite positive. But the private ones have lapped up the idea with vigour, he says.
The firm however is hopeful of roping in at least a couple of them into the model by the end of this fiscal.
auctionindia.com, India's first auctioning site, displays about 800 machines and industrial units for auctioning. The site went operational in June last. |
|
.gif)
Search