The e-commerce joint venture between SAIL and Tata Steel, mjunction, today said its value of transactions may treble to Rs 50,000 crore by 2012-13 as on-line trade is gaining momentum in India.

"We aim to clock transactions worth Rs 50,000 crore by 2012-13. We hope to complete the current financial year with transactions of about Rs 20,000 crore," mjunction Managing Director & CEO Viresh Oberoi told PTI.

The company, which is evenly owned by the steel majors, recorded a transaction value of Rs 14,393 crore in the last financial year.

The company hopes 90 per cent of the total transactions would come from its steel and coal trading business and the rest from the business-to-consumer segment.

Keen on growing overseas, mjunction is building a warchest of about Rs 100 crore for acquisitions in the procurement space, especially in Europe and America. At present, it has facilitated business transactions in South East Asian nations like Thailand.

"We are planning to create a warchest of Rs 100 crore for acquisitions which will be made in the next fiscal. This will come from the promoters and our internal accruals. We are now evaluating merchant bankers who can seal such deals for us," he added.