Nagpur: Mine in Maharashtra and Chhattisgarh have taken the lowest bid in terms of the percentage increase offered through reserve prices, during the tranche both coal block auctions for commercial exploitation.
Adani Group Adani Power Maharashtra Limited got a Gondkhaairi block with a 9.5% offer above and above the reserve price.
Sunflag Iron and Steel Limited, a company from the city, got the Bhiivkund block in the Chandrapur district at a price of 9% above and above the reserve price.
Other adani group companies – CG Private Limited Natural Resources – have got two coal blocks in Chhattisgarh for 6% offer.
CG natural resources are arranged for operations in Chhattisgarh.
Adani Power Maharashtra has a power plant in Tiroda in the Gondia district.
Bid was invited based on the percentage of the increase offered at the reserve price.
The reserve price is repaired at 4% of the price of representatives from coal blocks and the latter is calculated based on various factors such as coal volume, notification prices and imported price channels etc.
Interested parties must bid on the upper level and above 4% of reference prices, explained sources in this sector.
There is a major difference in offers received for other mines and they are in Maharashtra and Chhattisgarh.
For example, the Rauta mine on Jharkhand goes for a 75% bid on the reserve rate.
The mine was bagged by Shreesatya Mines Private Limited.
Prakash Industries received a Bhaskarpara mine, also in Chhattisgarh, to bid 55.75% over reserve prices.
Two other mines in Jharkhand got an offer of 54.50% and 24.25%.
Blocks go to Shreesatya mine and exploration of South West Pinnacle each.
Offers in the percentage of provisions received for mine in Maharashtra are also substantially less than located in the country being auctioned in the first tranche last year.
Block Takli Jena Belora and Marki Mangli-II in Chandrapur go to Aurobindo Reality and Yazdani International Private Limited, respectively.
The two companies have offers at 30.75% above the reserve rate.
Blocks in Vidarbha and Chhattisgarh may have taken lower rates due to lack of sufficient competition, professionals who observe developments.
For example, there are two bidders for the Gondkhaairi block who goes to Adani.
Other auctions are Sunflag Iron and Steel.
Sunflag that appears when a successful bidder for Blok Bhivkund only has competition from Aurobindo Realty.
There is no bidder for three more blocks located in this region and one offer is accepted for one.
Offer can be higher if the number of bidders is more, said the source in this sector.