1. What is the name of the portal where the auction will be conducted?
The auction will be conducted in the ITCMAARS Sampark portal by ITC Limited- Agri Business Division.
2. Is participation in the auction mandatory?
No, participation in the auction is purely voluntary.
3. Where can I find details about upcoming auctions?
You can find details about upcoming auctions on the "Auction" tab. Each auction card will contain relevant information such as crop, quantity, reserve price, etc., specific to that particular auction.
4. Can I join an auction before its start time?
No, you can only join the auction when the auction start-time triggers. For example, if the auction start time is 11:30 AM, you can join the auction at 11:30 AM.
5. Can I edit my bid rate and quantity after confirming to join the auction?
Yes, after confirming to join the auction, you can edit your bid rate and quantity according to your preference.
6. Can I change the quantity I wish to bid multiple times?
Yes, you can increase or decrease the quantity as many times as required, with a minimum of 100 MT and a maximum of the total offered quantity. The quantity can be increased or decreased in multiples of 50 MT.
7. Can I join the auction at the base price?
Yes, you can join the auction at the base price. However, the joining bid amount cannot be lower than the reserve price or current highest bid price – whichever is higher.
8. Can I reduce my bid amount or place a new bid at the same amount?
No, you cannot reduce your given bid, nor can you bid again at the same amount. You can only increase the bid amount.
9. What is the increment for bid amounts?
Bid amount increments are done by ₹50 per MT.
10. Can I view the highest bid amount and my bid amount during the bidding process?
Yes, once the auction has started, you will be able to see the highest bid amount, your bid amount, and your bid quantity.
11. Can I decrease my bid quantity to zero?
No, the bid quantity cannot be decreased to zero. The minimum bid quantity is 100 MT.
12. Can I decrease my bid quantity below the minimum increment of 50 MT?
No, the bid quantity can only be increased or decreased in multiples of 50 MT.
13. Can I modify my bid after the auction concludes?
No, once the auction concludes, you cannot modify your bid.
14. Can I participate in multiple auctions simultaneously?
Yes, you can participate in multiple auctions simultaneously if they are running at the same time. You can place bids or participate in multiple auctions that are running simultaneously.
15. How long is the lifting period for Spot Auctions?
The lifting period for Spot Auctions varies depending on the final quantity allocated to the customer. The periods are as follows: