Puducherry Govt to raise ₹100 crore from open market

The Puducherry government has decided to raise ₹100 crore from the open market through auction of dated securities.

“The government has offered to sell by auction the dated securities for an amount of ₹100 crore with thirteen year tenure with an option to retain an additional amount of up to ₹ 100 crore. Securities will be issued for a minimum nominal amount of ₹10,000 and in multiples of ₹10,000 there after,” Development Commissioner -cum- Principal Secretary to Government, Puducherry, Prashant Goyal said in a communication.

The auction will be conducted by the Reserve Bank of India, Mumbai Office, (Fort) on January 11. Interested persons, firms, companies, corporate bodies, institutions, Provident Fund Trusts, Regional Rural Banks and Co-operative Banks could submit a consolidated non-competitive bid of all its constituents in electronic format on the RBI core banking solution (E-Kuber) available on the website www.rbi.org.in between 10. 30 am and 11 am on January 11.

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