Maiden e-auction fetches TTD Rs 133 cr

Maiden e-auction fetches TTD Rs 133 cr

Hair-raising revenue

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.