Govt to raise Rs 100 crore through auction of 10 yr securities

Puducherry government today announced the sale of 10 year securities in the form of stock to the public by auction for an aggregate sum of Rs 100 crore.
The auction would be conducted by the RBI at in Mumbai on November 21m Secretary to Finance Department V
Candavelou said in a release today.
He said that securities would be issuedfor minimum nominal amount of Rs 10,000 and in multiples of Rs 10,000 thereafter.
Interested persons, firms, companies, corporate bodies, institutions, Provident Fund , Trusts, Regional Rural Banks and cooperative banks may submit a single consolidated non-competitive bid on behalf of all its constituents in electronic format on the RBI Core banking solution (E-Kuber) available in the website HYPERLINK "http://www.ribi.org.in/" \nwww.ribi.org.

in.

Successful bidders should deposit the price amount of the stock covered by their bids by means of a Banker's Cheque or Demand Draft payable at RBI Mumbai (Fort) or Chennai on November 22 before the close of banking hours.
The Government stock will bear interest at the rate determined by the RBI at the auction.
Interest will be paid on May 22 and November 22 of every financial year until repayment.
The stocks will qualify for Ready Forward Facility, the official said.