August 24, 2010 7:20 AM EDT
India's National Textiles Corp (NTC) has fixed a reserve price of 600 million rupees ($12.8 million) for the online auction of its mill in Indore, and 500 million rupees for auction of its Bangalore property, its chairman said on Tuesday.
"We will release the advertisements for the auctions in a week. Then it will take another 45 days from the date of release of the advertisements," Chairman K. Ramachandran Pillai told Reuters.
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NTC had earlier sold two mills in Mumbai for a total of 19.8 billion rupees to Indiabulls Real Estate
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