By Haryananewswire4u
CHANDIGARH, DEC 13
The Haryana
Government has notified the sale of Haryana Government Stock (Securities) of
10-year tenure for an aggregate amount of Rs. 850 crore (Nominal).
A
notification to this effect has been issued by the Finance Department, Haryana.
As
per the notification, the proceeds of the loan will be utilised for financing
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,
at its Mumbai Office, Fort, Mumbai on December 17, 2013.
Bids
for the auction should be submitted in electronic format, on the Reserve Bank
of India Core Banking Solution (E-Kuber) system on December 17, 2013.
The competitive bids should be submitted electronically on the
Reserve Bank of India Core Banking Solution (E-Kuber) between 10.30
A.M. and 12 P.M. and non competitive bids between 10.30
A.M. and 11.30 A.M.
The
Government stock upto 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 Reserve Bank of India on its
website on the same day. Successful bidders will make payments on December
18, 2013 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 June 18 and December 18.
The
stock will be of ten-year tenure and the tenure of stock will commence on December
18, 2013. The loan will be repaid at par on December 18, 2023.
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