IndiaMart slumps 4.5% despite issuing clarification on auction for old one rupee coins

Some reports suggested at least 100 years old coins are being auctioned at a fixed price of 25 lakh on the company platform.

Oct 19, 2020 10:10 IST India Infoline News Service

IndiaMart InterMesh Limited issued a clarification on Sunday on the Article published on the media regarding auctions of one rupee coins being held on the Company platform.

The company is currently trading at Rs4,795 down by Rs222.85 or 4.44% from its previous closing of Rs5,017.85 on the BSE. The scrip opened at Rs5,049.45 and has touched a high and low of Rs5,049.45 and Rs4,600.95 respectively. 

“This is in reference to the articles appearing in the media publications wherein it is mentioned that old one rupee coins which are at least 100 years old are being auctioned at a fixed price of 25 lakh on the company platform.  We wish to thereby inform you that this news is without any confirmation from the company and there has been no such auctions organized on the company platform,” company said.  

“We would also like to further clarify that the Company has not authorised any other party to carry out any such actions and accordingly no third party will have the right to conduct such activities on the platform,” it added.   

The company is a B2B marketplace, wherein sellers find their relevant buyers and vice versa to carry on with their business activities, and not a platform where auctions are held."

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