Balapur Laddu, which draws devotees to bid at high prices each year, was auctioned off at ₹15.6 lakh on Tuesday. The highest bid for the laddu last year was ₹14.65.
Nagam Tirupati Reddy of Jubilee Hills Ayyappa Society made the highest bid. The next closest bidder to was Mahendra Reddy of Nagarjuna Steels. The latter bid till ₹15.55 lakh. The auction, which started at 10 am, lasted for 25 minutes. There were four new participants for the auction this year.
The laddu auction has been a tradition that takes place each year on the day of Ganesh immersion, for more than two decades. The traditional sweet is believed to bring prosperity to those who win it in auction.
