E-bidding: Govt to explore English auction system for disinvestment

Currently, disinvestment of state-owned entities happens through a manual process in which an interested bidder submits a sealed bid

In a departure from physical bids, the Centre is working on an online portal for selling state-owned entities. The portal, which is being developed by state-owned Metal and Scrap Trading Corporation (MSTC), will redesign the process of privatisation. E-bidding will also change the sales process from sealed bidding to an English auction system, which is an open ascending system under which participants bid against one another, with each subsequent bid required to be higher.               
 
The auction ends when no participant is willing to bid further, and then the highest bidder is declared the winner.
 
Currently, disinvestment of state-owned