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TN, Telangana, MP to issue UDAY bonds worth Rs 18,107 cr

Press Trust of India  |  Mumbai 

Madhya Pradesh, and will issue UDAY bonds on a private placement basis to raise a total of Rs 18,107.93 crore.

The scheme has been introduced by the to bail out loss making power utilities.

Break-up wise, will offer securities worth Rs 8,815 crore under the Ujjwal Discom Assurance (UDAY) scheme; Rs 7,360 crore and Rs 1,932.93 crore.

Eligible market participants need to place their bids between 10:30 AM to 12 noon on March 21, Reserve said in a release.

The securities are to be allotted on March 22.

A participant will have to place minimum bid of Rs 100 crore, RBI said.

RBI reserves the right to accept or reject any/all bids at its sole discretion.

Power Ministry in November 2015 had issued memorandum on UDAY for operational and financial turnaround of power distribution companies (discoms).

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, March 17 2017. 20:57 IST