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Auction Of 10-Year Papers Sail Through

The auction of 10 year papers of three state governments -- Andhra Pradesh, Madhya Pradesh and West Bengal -- for raising Rs 830 crore sailed through today.

The Andhra Pradesh government's paper received 53 bids aggregating Rs 873.50 crore as against the notified amount of Rs 475 crore.

The Reserve Bank of India, which conducted the auction, accepted 15 bids for the target amount at a cut-off yield of 9.53 per cent.

While the partial-allotment percentage for the paper was 90 (2 bids), the weighted average yield works out to 9.4950 per cent.

The Madhya Pradesh government's paper received 18 bids aggregating Rs 166.25 crore as against the notified amount of Rs 105 crore.

The central bank accepted 6 bids for the targeted amount at a cut-off yield of 9.55 per cent.

The partial-allotment percentage stood at 100 (3 bids), while the weighted average yield for the paper works out to 9.5457 per cent.

And the West Bengal government's paper received 31 bids aggregating Rs 317 crore as against the notified amount of Rs 250 crore.

The apex bank accepted 24 bids for the targeted amount at a cut-off yield of 9.72 per cent.

While the partial-allotment percentage stood at 29.99 (1 bid), the weighted average yield of the paper was 9.5824 per cent.

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First Published: Tue, August 14 2001. 00:00 IST