India's 6 state govts announce Rs 40.05 bln auction of 10-yr state development loans

Contify Banking – Sat 2 Jun, 2012 1:54 PM IST

New Delhi: The Reserve Bank of India (RBI) said it will conduct the sale of 10-year State Development Loans (SDLs) of six state governments of India for an aggregate amount of Rs 40.05 billion (face value) on June 5, 2012. The sale will be conducted using multiple price auction method.

The six state governments are Andhra Pradesh (Rs 7.50 billion), Gujarat (Rs 15 billion), Himachal Pradesh (Rs 4.30 billion), Punjab (Rs 7 billion), Rajasthan (Rs 5 billion) and Tripura (Rs 1.25 billion), the central bank said in a statement Friday.

The competitive and non-competitive bids for the auction have to be submitted in an electronic format on the negotiated dealing system (NDS) on June 5, 2012.

The non-competitive bids have to be submitted between 10:30 am and 11:30 am, and the competitive bids have to be submitted between 10:30 am and 12:00 pm.

The results of the auction will be announced on the same day and payment by successful bidders will be made on June 6, 2012.

Copyright Contify.com

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