Haryana notifies sale of govt stock of 10-year tenure

The Haryana government has notified the sale of stock (securities) of 10-year tenure for an aggregate amount of Rs 800 crore (nominal).
A notification to this effect has been issued by the Finance Department, Haryana, an official release said here 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 of India on November 10.
"Bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on November 10, 2015.

"The competitive bids would be submitted electronically on the Reserve Bank of India Core Banking Solution (E-Kuber) between 1030 hours and 1200 hours and the non competitive bids between 1030 hours and 1130 hours," the release said.

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, it further said.

The results of the auction would be displayed by the RBI on its website on the same day. Successful bidders will make payments on November 13, 2015 before close of banking hours while interest will be paid on May 13 and November 13.
The stock will be of 10-year tenure, commencing on November 13, 2015. The loan will be repaid at par on November 13, 2025, it added.