Stock market regulator Sebi (Securities and Exchange Board of India) on Thursday said it will auction ten properties of the Sahara Group at a reserve price of Rs 1,192 crore.
According to Sebi, it has engaged HDFC Realty and SBI Capital Markets to sell the ten properties of the group.
The sale will be carried out through e-auction by HDFC Realty and SBI Capital Markets on July 4 (11.00 a.m.-12.00 noon) and July 7 (10.30 a.m. -11.30 a.m.), respectively.
Sebi asked the two companies to carry out the auction after the Supreme Court's directive to initiate the sale of Sahara properties.
In a public notice published on Thursday, HDFC Realty said it will carry out an online auction of five Sahara properties at a reserve price of Rs 721.96 crore.
The properties include agricultural, non-agricutlural lands located in Uttar Pradesh, Madhya Pradesh, Tamil Nadu, Chattishgarh and Andhra Pradesh. The bidders can inspect the land on June 10.
In a separate public notice, SBI Capital Markets said it will carry out the online auction of five land parcels at a reserve price of Rs 470.04 crore.
The land parcels are located in Gujarat and Uttar Pradesh and the bidders can inspect the same on June 8-9.