Haryana govt notifies Securities

The state 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 has been issued by the Finance Department, Haryana, an official release said today.
As per the notification, the proceeds of the loan will be utilised to finance State Plan Outlay in connection with the development programmes of the state government.
The auction of the government stock will be conducted by the Reserve Bank at its Mumbai Office on January 15, it said.
Bids for the auction should be submitted in electronic format, on the Reserve Bank of India Core Banking Solution (E-Kuber) system on January 15, 2014.

The government stock up to 10 per cent of the notified amount of the sale will be allotted to eligible individuals and institutions subject to a maximum limit of one per cent of the notified amount for a single bid as per the Revised Scheme for Non Competitive Bidding Facility in the auctions of State Government Securities of the General Notification.

The results of the auction would be displayed by the RBI on its website on the same day, the release said.
Successful bidders will make payments on January 16, 2014 before close of banking hours by means of cash, banker's cheque, pay order, demand draft payable at Reserve Bank of India, Mumbai or New Delhi or a cheque drawn on their account with Reserve Bank of India, Mumbai (Fort) or New Delhi. Interest will be paid on July 16 and January 16.

The stock will be of 10-year tenure and the tenure of stock will commence on January 16, 2014. The loan will be repaid at par on January 16, 2024.