A prominent manufacturer specializing in Viscose filament yarn leveraged Matex’s platform to navigate a challenging auction scenario.
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Challenges Faced:
- Following the NCLT formalities, a prominent market player acquired the plant as a going concern.
- Two plants were sold offline at significantly lower prices due to local disturbances.
- The plant's location in the city center made dismantling a challenge without causing disruptions to the city and the nearby railway station.
- A pending court case on the day of the auction posed additional risks.
- The process needed to be completed before the court verdict, necessitating a no-extension bidding method.
Solution Offered:
- Matex Net facilitated the participation of specialized bidders experienced in sophisticated plant dismantling activities.
- The auction fetched a valuation of Rs.42 crores, compared to an offline offer of Rs.28 crores and the client expectation of Rs.35 crores.
- The buyer successfully executed the project within the allotted 9-month timeframe, ensuring 100% timely payments.
- The land was handed over on time for the development of a Logistics Park.
Benefits:
Offline Offer : Rs. 28 Cr
Competitor Offer Price : Rs. 39.75 Cr
Matex Auction Price : Rs.42 Cr
Over all Savings
for the client:
14 Crores
The Matex platform not only exceeded the client's expectations but also ensured a smooth and timely
project
execution, showcasing the platform's efficiency and reliability in handling complex industrial
transactions.
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