Sale of govt stock securities
PANAJI: As part of the Government of India’s approved planned borrowing for the State for 2015-16, the government of Goa has offered to sell Goa State Government Stock (Securities) of 10-years tenure of an aggregate amount of Rs 150 crore (nominal). Government stock will be sold through the Reserve Bank of India, Mumbai Office (PDO) Fort, on November 10, by auction at a coupon rate to be determined by RBI.
Bids for the auction should be submitted in electronic format, on the RBI Core Banking Solution (E-Kuber) system on November 10. The bids shall be submitted electronically between 10.30 am and noon. The result of the auction shall be displayed by the RBI on its website on the same day.
The payment by successful bidders will be on November 13, before close of banking hours. The loan will be repaid at par on November 13. The cut-off yield determined at the auction will be the coupon rate percent annum on the stock sold at the auction. The interest will be paid every half yearly on May 13 and November 13.
The auction is also open to eligible individuals and institutions on non competitive basis to maximum limits of 10 per cent of the notified amount.
