Shriram Automall enters into Rs. 50,000 crore Stressed Assets Management Industry
It will strike the right chord of the customers for end-to end solutions of industrial equipment and commodities
• 123done.in conducts e-auction for plant & machinery, commodities, property and salvage/scrap/surplus assets.
• PAN India 10 million+ customers of SAMIL & its Affiliates will get additional benefit of industrial auction along with existing automobile auction services.
India's largest Physical & Online Bidding Platform for pre-owned vehicles and equipment, Shriram Automall India Limited (SAMIL) has acquired majority stake in Augeo Assets Management Private Limited (Augeo) for an undisclosed amount. The company is a premium service provider in the asset disposal, transaction advisory and custodial services. It also conducts e-auction for diversified assets including real estate, plant & machinery, equipment, commodities, natural resources, minerals, mines, salvage/scrap/surplus and miscellaneous assets through its electronic market place 123done.in which hosts e-selling, e-procurement and e-listing services.
This acquisition fosters the vision of Shriram Automall to enter industrial auction in addition to its existing automobile industry. 123done.in gets back up of Shriram Group and CarTrade Group's existing relationships of Public & Private Sector Banks, NBFCs and other clientele for sourcing. Also, it is likely to exercise its services PAN India through Shriram Automall's extensive presence all over tier
I, II & III cities. It will begin a new journey for customers who are looking for transparent, organized and professional solutions for industrial equipment and commodities for long time.
Sameer Malhotra, Director and Chief Executive Officer, Shriram Automall India Limited, said that "We are growing exponentially year on year basis and we have been exploring new industries to add up to our existing vehicle auction business to grow multifold in coming years. We found industrial equipment and commodities industries as most complimentary in auction business which aptly suits our 10 million customer base at Shriram Group and CarTrade Group. Thus we found 123done.in, which is a right fit to match our vision. We are very excited to find right kind of leadership in 123done.in to be part of our growth story
Current Issue
12-2025
