A New India
Chapter 180 - 180: The Auction - I

The atmosphere in New Delhi's conference hall was full of anticipation.

The room lighten by grand chandeliers was filled with some of the most powerful financial companies in the world.

They were not here for a mere business deal.

They were here to claim a piece of India's largest and most valuable asset: Indian Insurance Holding.

Sometimes some opportunities are once in a life time.

Today India is still rising but the Life Insurance is growing fast and steadily and soon with time it will become a behemoth that will cover the whole nation and the amount of profit it will generate will be unprecedented.

Because of this Rohan's plan is to auction 20% of IIH divided into four lots of 5% which will get more amount of money raised through this auction.

Representatives from Goldman Sachs, Barclays, Dai-Ichi Life Insurance, BNP Paribas, and Deutsche Bank sat at their tables, their sharp eyes scanning the room, strategizing.

This was no ordinary auction, this was a fight for a share in India's future.

Rohan stood by the side of the room with Harish Patel, the Finance Minister, and a few close advisors.

This auction was sending a message to the world.

India was open for business, and they were playing in the big leagues now.

As the auctioneer took his place on the stage, the room fell into an expectant silence.

Each company had prepared for this moment, bringing with them their top negotiators, legal experts, and financial strategists.

The stakes were high, and everyone knew it.

The auctioneer, an experienced man who had presided over countless high-stakes auctions before, cleared his throat.

"Ladies and gentlemen," he began, "we are here to auction 20% of IIH, the Indian Insurance Holding. This will be split into four 5% lots. The bidding for the first 5% will now begin at $500 million USD."

There was a pause, a moment of stillness as everyone adjusted their strategies. Then, the first hand went up, Goldman Sachs.

"$500 million," their representative announced confidently.

BNP Paribas didn't hesitate, raising the stakes. "$550 million," their lead negotiator countered.

The auctioneer turned to Barclays, whose representative had been sitting calmly.

After a brief nod to his team, the man raised his paddle.

"$600 million."

The tension in the room increased.

Every team knew that the first lot would set the tone for the entire auction.

Everyone was watching, calculating their next move.

But for Rohan and his team they were excited because they hoped to to earn around $2 Billion but now it seems they will cross that very easily.

From the back of the room, the representative from Dai-Ichi Life Insurance, a serious man who had hardly spoken since arriving in India, raised his hand.

His voice was steady. "$650 million."

The auctioneer nodded, the pace quickening. "We have $650 million. Do we have $700 million?"

The representative from Goldman Sachs raised his hand once more, not willing to back down so soon. "$700 million."

Harish leaned toward Rohan, whispering, "It's moving fast. They're hungry for this."

Rohan gave a small smile. "That's the point. They all know what's at stake."

The bidding continued, with BNP Paribas and Barclays going back and forth.

Each offer was raised higher than the last.

The auctioneer's voice filled the room, maintaining control over the rapid-fire offers.

"$800 million."

"$850 million."

"$900 million."

The numbers were climbing, and fast.

When the figure hit $1 billion, the room fell silent for a split second.

The representatives exchanged glances, recalculating their positions.

It was a symbolic number, and crossing it would signal the seriousness of the game.

Finally, Dai-Ichi Life Insurance raised their hand. "$1.05 billion."

The room buzzed with murmurs again.

It was clear that the Japanese were ready to play hard.

The auctioneer looked around, gauging the room. "Do I hear $1.1 billion?"

For a moment, no one moved.

Then, the representative from Goldman Sachs raised his paddle. "$1.1 billion."

The auctioneer's hammer hovered over the table. "$1.1 billion, going once… going twice…"

A sudden voice from BNP Paribas interrupted. "$1.15 billion."

This suprised everyone, everyone had assumed the auction would close soon, but BNP Paribas wasn't finished yet.

They were determined to secure this first 5% stake.

The auctioneer nodded, waiting for more bids.

After what felt like an eternity, the representative from Goldman Sachs gave a small shake of his head.

They were out.

The auctioneer brought his gavel down.

"$1.15 billion, sold to BNP Paribas for the first 5% of IIH.

The second round began after a brief recess, and this time, the room was even more tense.

The first lot had been expensive, and now, the stakes were raised.

The next 5% would go for even more, and everyone knew it.

Harish glanced at Rohan, who remained calm, watching the room closely.

The strategy was working by splitting the auction into phases, they had driven up the price, just as they had hoped.

Even beyond what they hoped for.

As the auctioneer announced the start of the second auction, the bidding picked up where it had left off.

"Starting at $600 million USD," the auctioneer called out.

This time, Deutsche Bank was quick to raise their paddle. "$600 million."

The pace was faster now.

Goldman Sachs, eager to secure a piece of LIC after losing the first round, jumped in with $650 million.

Barclays wasn't going to let this one slip by. "$700 million."

The room hummed with tension as the bids climbed higher.

The auctioneer's voice grew louder, his rhythm steady as he guided the room through the escalating offers.

"$800 million."

"$900 million."

When the number hit $1 billion once again, the bidding slowed.

Goldman Sachs and Barclays were locked in a duel, each pushing the other higher.

Finally, after a brief pause, Barclays raised their paddle once more. "$1.2 billion."

The room fell silent again. This was a bold move far higher than anyone had expected for the second 5%.

The auctioneer scanned the room, waiting for more bids.