Shriram Automall enters into Rs 500 billion stressed assets management industry

10 Jan 2020 CW Team

This acquisition fosters the vision of Shriram Automall to enter industrial auction in addition to its existing automobile industry. 123done.in gets back-up of Shriram Group and CarTrade Group’s existing relationships of public and private sector banks, NBFCs and other clientele for sourcing. Also, it is likely to exercise its services pan-India through Shriram Automall’s extensive presence all over Tier-I, -II and -III cities. It will begin a new journey for customers who are looking for transparent, organised and professional solutions for industrial equipment and commodities for a long time.

Sameer Malhotra, Director and CEO, Shriram Automall India, said, that “We are growing exponentially year-on-year basis and have been exploring new industries to add up to our existing vehicle auction business to grow multi-fold in the coming years. We found industrial equipment and commodities industries as most complimentary in the auction business, which aptly suits our 10 million customer base at Shriram Group and CarTrade Group. Thus, we found 123done.in, which is a right fit to match our vision. We are excited to find the right kind of leadership in 123done.in to be part of our growth story.”

SAMIL, an ISO 9001:2015 certified company, is India’s first ever service provider to offer a well-organised and transparent platform for exchange of pre-owned commercial vehicles, passenger vehicles, construction equipment, tractors, agricultural equipment, three wheelers and two wheelers. It is a part of Shriram Transport Finance Company (STFC), India’s largest Small Business Finance Company (SBFC) and MXC Solutions India, which runs both CarTrade.com and CarWale.com, India’s leading online auto marketplace. Every month, SAMIL conducts 3,000+ bidding events through its well-structured physical and online platforms, making it India’s largest offline and online vehicles transaction platform. The company provides online vehicle transaction services through CarTradeExchange.com, bids.samil.in and vehicle inspection and valuation facility through its 100 per cent subsidiary Adroit Auto. SAMIL has been conferred with over 20 nationally recognised awards. In a brief span of over eight years, the group has served 1,700,000+ customers by conducting 90,000+ bidding events at 85+ Automalls and 150+ bidding locations in India and transacted 1,500,000+ transactions worth 25,000+ crore. Presently, SAMIL gets over 800,000+ listing yearly on its platforms.

India’s largest physical and online bidding platform for pre-owned vehicles and equipment, Shriram Automall India (SAMIL) has acquired a majority stake in Augeo Assets Management (Augeo) for an undisclosed amount. The company is a premium service provider in the asset disposal, transaction advisory and custodial services. It also conducts e-auction for diversified assets including real estate, plant and machinery, equipment, commodities, natural resources, minerals, mines, salvage/scrap/surplus and miscellaneous assets through its electronic market place 123done.in that hosts e-selling, e-procurement and e-listing services.This acquisition fosters the vision of Shriram Automall to enter industrial auction in addition to its existing automobile industry. 123done.in gets back-up of Shriram Group and CarTrade Group’s existing relationships of public and private sector banks, NBFCs and other clientele for sourcing. Also, it is likely to exercise its services pan-India through Shriram Automall’s extensive presence all over Tier-I, -II and -III cities. It will begin a new journey for customers who are looking for transparent, organised and professional solutions for industrial equipment and commodities for a long time.Sameer Malhotra, Director and CEO, Shriram Automall India, said, that “We are growing exponentially year-on-year basis and have been exploring new industries to add up to our existing vehicle auction business to grow multi-fold in the coming years. We found industrial equipment and commodities industries as most complimentary in the auction business, which aptly suits our 10 million customer base at Shriram Group and CarTrade Group. Thus, we found 123done.in, which is a right fit to match our vision. We are excited to find the right kind of leadership in 123done.in to be part of our growth story.”SAMIL, an ISO 9001:2015 certified company, is India’s first ever service provider to offer a well-organised and transparent platform for exchange of pre-owned commercial vehicles, passenger vehicles, construction equipment, tractors, agricultural equipment, three wheelers and two wheelers. It is a part of Shriram Transport Finance Company (STFC), India’s largest Small Business Finance Company (SBFC) and MXC Solutions India, which runs both CarTrade.com and CarWale.com, India’s leading online auto marketplace. Every month, SAMIL conducts 3,000+ bidding events through its well-structured physical and online platforms, making it India’s largest offline and online vehicles transaction platform. The company provides online vehicle transaction services through CarTradeExchange.com, bids.samil.in and vehicle inspection and valuation facility through its 100 per cent subsidiary Adroit Auto. SAMIL has been conferred with over 20 nationally recognised awards. In a brief span of over eight years, the group has served 1,700,000+ customers by conducting 90,000+ bidding events at 85+ Automalls and 150+ bidding locations in India and transacted 1,500,000+ transactions worth 25,000+ crore. Presently, SAMIL gets over 800,000+ listing yearly on its platforms.

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

Infrastructure Energy

12 Dec 2025

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

Infrastructure Energy

12 Dec 2025

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..