The Puducherry government today
announced sale of eleven-year securities in the form of stock
to the public by auction to aggregate Rs 100 crore.
Puducherry Finance Secretary V Candavelou said in a
release that the auction would be conducted by Reserve Bank of
India Mumbai Office (Fort) on October 24.
The release said that securities would be issued for a
minimum nominal amount of Rs 10,000 and in multiples of Rs
The government stock would bear interest at the rate
determined by RBI at the auction.
Interest would be paid on April 25 and October 25 every
financial year until repayment.
The stocks would qualify for 'ready forward facility,'
the release said.
Interested persons, firms, companies, corporate
bodies and trusts may submit a single consolidated
non-competitive in electronic format at "http://www.rbi.org.
in/ on October 24 between 10.30 a.m. and 11.30 a.m.
The release said competitive bids should be submitted
electronically at www.rbi.org.in between 10.30 a.m. and noon
on the same day.
The result of auction would be displayed by RBI Fort
Mumbai on October 24 on its website.
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
October 25, before close of banking hours.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)