"For SAIL, this e-auction conducted by mjunction of commercial papers has led to better price discovery. The process was structured, less time consuming, has a scope for greater participation and above all is transparent," a release by mjunction, a JV between Tata Steel and SAIL, said.
"We have the most technologically-advanced platform as an electronic book provider (EBP) for debt market instruments like commercial papers or bonds. From initiating bids till final issuance, our platform is completely automated ensuring total transparency to all stakeholders," mjunction CEO Vinaya Varma said.
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