Home / Business and Economy / Jeweller's 'Paisa' Bid Wins Rs 755 Cr Govt Contract
Jeweller's 'Paisa' Bid Wins Rs 755 Cr Govt Contract
22 Aug
Summary
- Joyalukkas bid 1 paisa service charge for gold rings.
- Contract awarded to Joyalukkas and Kalyan Jewellers.
- First phase distribution covers 1,28,499 gold rings.
A government tender for supplying gold rings has seen a surprisingly low bid from jewellery retailer Joyalukkas. The company quoted a service charge of just 1 paisa per one-gram, 22-carat gold ring. This bid was significantly lower than other participating jewellers, raising questions online.
The state health department has awarded the contract, estimated at ₹755 crore, to Joyalukkas and Kalyan Jewellers. This allocation is based on a 70:30 ratio, with Kalyan Jewellers being the only other bidder willing to match Joyalukkas's price.
According to the health department, the 1 paisa quote covers all charges except the gold's prevailing price. The tender process followed the TN Transparency in Tenders Act. The first phase involves distributing 1,28,499 gold rings from June onwards.
