No! You won't get Rs 25 lakh for your 100-year-old Re 1 coin

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After some media reports suggested that auction of 100-year-old Re 1 coins on IndiaMart could fetch lucky individuals Rs 25 lakh, the company on October 18 refuted these claims.

The damage, however, was done. Shares of IndiaMart InterMesh slumped 4.5 percent on October 19 despite the clarification, trading at Rs 4,795 after slipping by Rs 222.85 or 4.44 percent from its previous Rs 5,017.85 close on the BSE.

The share is now (15.25 pm on October 19) at Rs 4,850 down Rs 167.85 or 3.35 percent, having made meagre recovery through the day.

"This is in reference to the articles appearing in the media publications wherein it is mentioned that old one rupee coins which are at least 100 years old are being auctioned at a fixed price of 25 lakh on the company platform.  We wish to thereby inform you that this news is without any confirmation from the company and there has been no such auctions organized on the company platform,” the company said as per reports.

“We would also like to further clarify that the company has not authorised any other party to carry out any such actions and accordingly no third party will have the right to conduct such activities on the platform,” it added.

Multiple media reports emerged on October 16 and 17 claiming people could “earn extra money” by selling old coins on the B2B online marketplace.