JOIN USMaiden e-auction fetches TTD Rs 133 cr
The amount fetched for the 4,65,000 kg of all varieties of hair was around Rs 133 crore.
The hair, depending on its length and colour, enjoys a huge global market in the fashion industry.
The maiden e-auctioning of human hair earned the TTD an additional revenue of Rs 30 crore, even as the conventional bid received a whopping hike of 27 per cent as against the previous bid which recorded only a 2 per cent increase.
According to the TTD, the entire process of e-auctioning of human hair was carried out in a transparent manner with nearly 49 bidders from across the nation taking part in this bid held between 10 am and 8 pm on Thursday.
To restrict bidders from forming a ring and denting revenue, the TTD opted for the e-auction to have a transparent sale of human hair. Earlier, the public sector MSTC inspected the existing stock thoroughly from September 12 to September 21 and gave the green signal to the e-auctioning of human hair.
The MSTC is helping the TTD through its e-auction network.