Harayana to sell securities worth Rs 1,200 cr

The Haryana government has notified the sale of Haryana government stock (securities) of 10-year tenure for an aggregate amount of Rs 1,200 crore (nominal).

A notification to this effect issued by the finance department states the proceeds of the loan will be utilised for financing capital expenditure in connection with the development programmes.

The auction of the government stock will be conducted by the Reserve Bank of India, at its Mumbai Office, Fort, Mumbai on September 22, 2009.

Bids for the auction should be submitted in electronic format, on the Negotiated Dealing System (NDS) on September 22, 2009. The competitive bids should be submitted between 10.30 a m and 12.30 p m and non-competitive bids between 10.30 am and 11.30 am.

Participation on ‘non-competitive’ basis is open to any person including corporate bodies, institutions, provident funds, trusts and any other entity as may be prescribed by RBI. The minimum amount for bidding would be Rs 10,000 (face value) and thereafter in multiples in Rs 10,000 as hitherto for investment in state government securities.