MSTC Secures Coal India Contract for NRS Linkage Auction Services
Filing Summary
MSTC Limited has been awarded a contract by Coal India Limited to serve as the external service provider for conducting linkage auctions for the Non-Regulated Sector (NRS). The contract, secured through a tender on the GEM portal, will span three years. MSTC will manage the entire auction process, from conducting the auction to executing agreements via its platform. The contract is domestic, and the financial consideration is not specified at this stage. There is no interest from MSTC’s promoter group in the awarding entity, and the contract does not constitute a related party transaction.
MSTC Limited has announced that it has become the L1 bidder for a tender hosted by Coal India Limited on the GEM portal. The tender involves the appointment of an external service provider for conducting linkage auctions for the Non-Regulated Sector (NRS). The contract will be valid for a period of three years.
The scope of the contract requires MSTC to provide a comprehensive range of services related to the NRS linkage auction. This includes conducting the auction and executing agreements through the MSTC platform. The contract is awarded by a domestic entity, and the specific financial consideration or size of the contract has not been quantified at this stage.
There is no interest from the promoter or promoter group of MSTC in the entity that awarded the contract. Additionally, the contract does not fall within the category of related party transactions.
Coal India Limited is a major public sector undertaking in India, primarily engaged in the production and sale of coal. It plays a significant role in the energy sector, supplying coal to various industries across the country.
MSTC Limited is a government of India enterprise engaged in providing e-commerce services. The company specializes in conducting e-auctions and providing related services across various sectors. MSTC continues to focus on expanding its service offerings and enhancing its platform capabilities to cater to diverse industry needs.