iQuippo, a Kanoria Foundation initiative, organised Paison Ki Nilami (PKN), a mega simulcast auction of interest rates for facilitating financing of infrastructure equipment that witnessed participation from more than 20 original equipment manufacturers (OEMs) and 1,100 equipment owners.

The auctioning event was held across seven locations through webcast and allowed iQuippo?s customers an opportunity to bid for the lowest lending rates for purchasing of infrastructure equipment from different geographies. The event also provided a platform to iQuippo?s OEM, banking, non-banking and insurance partners to showcase their products and services to customers from Hyderabad, Kolkata, Mumbai, Pune, Nagpur, Jaipur and Ahmedabad.

Commenting on this occasion, Anant Raj Kanoria, CEO, iQuippo, said, ?We have noticed that in the market customers always want to negotiate pricing and interest rates and we through our platform want to digitise and make this process transparent. Therefore, through ?Paison Ki Nilami?, we want the customers and all the stakeholders to feel that they have got the best deal in the market and we have been able to create value and a win-win situation for all.?

The equipment pool comprised internationally acclaimed brands of excavators, tippers, loaders, motor graders and other infrastructure equipment from leading manufacturers like Komatsu, JCB, Puzzolana, Volvo Construction Equipment, SANY and many others. The financial partners included leading banks like Bank of Baroda, ICICI, Axis Bank, Syndicate Bank, Oriental Bank of Commerce, and United Bank of India, as well as non-banking finance companies such as Srei Equipment Finance and Mahindra Finance.

The event also offered a plethora of options to explore other services offered by iQuippo including machinery evaluation, purchase/replacement of spare parts, options for parking and logistics facilities etc.