Online Auction for Bharat Diamond Bourse Office Space
March 24, 11(IDEX Online News) - The Bharat Diamond Bourse (BDB) in Mumbai will hold an online auction for some 135 offices during April. Prospective bidders have to be members of the BDB, have applied for membership by April 7 or are members of a World Federation of Diamond Bourses (WFDB) affiliated diamond bourse to be eligible to bid for the offices.
According to BDB President Anoop Mehta, “All participants are required to apply online and submit their Earnest Money Deposits (EMD) by April 18. On approval, only registered bidders can participate in the auction for a block of shares with occupancy rights to stipulated premises”.
The BDB has eight buildings spread over a 20-acre plot that accommodate more than 2,500 offices. About 2,300 of these offices have already been allotted. The auction will be entirely online, Mehta specifies, and no physical bids will be entertained.
The auction’s entire process and related guidelines are being reviewed by KPMG. IT firm Centerac has built the online platform and will provide eligible bidders an extensive program.
Eligibility criteria for membership and the Trade Membership Form are available online at www.bdbindia.org.