Sale of Kerala Government Stock (securities) of 10-year tenure for an aggregate amount of Rupees 1,000 crore (Nominal)

In Notification No. 54311/SS1/2010 dated 04/11/2010, Government of Kerala has notified the sale of Kerala  Government Stock (securities) of 10-year tenure for an aggregate amount of .1000 crore (Nominal). The sale will be subject to the terms and conditions spelt out in this notification (called Specific Notification) as also the terms and conditions specified in the revised General Notification No. 18596/SS1/07/Fin. dated 20th July 2007 of Government of Kerala. The proceeds of the loan will be utilized for financing the developmental activities of the State. Consent of Central Government has been obtained to the flotation of this loan as required by Article 293(3) of the Constitution of India. Government Stock will be sold through the Reserve Bank of India, Mumbai Office (PDO), Fort, Mumbai-400 001 by auction in the manner as prescribed in paragraph 6.1 of the  General Notification No. 18596/SS1/07/Fin. dated 20th July 2007 at a coupon rate to be determined by the Reserve Bank of India at the yield based auction under multiple price format. The Government Stock up to 10% of the notified amount of the sale will be allotted to eligible individuals and institutions subject to a maximum limit of 1% 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 (Annxure-II). The auction will be conducted by the Reserve Bank of India, at its Mumbai Office, Fort, Mumbai, 400 001 on November 9, 2010.  Bids for the auction should be submitted in electronic format, on the Negotiated Dealing System(NDS) as stated below on November 9, 2010. (a)  The competitive bids shall be submitted electronically on the Negotiated Dealing      System(NDS) between 10.30 A.M. and 12.30 P.M. (b)  The non- competitive bids shall be submitted electronically on the Negotiated Dealing System(NDS) between 10.30 A.M. and 11.30 A.M. Downloads: For complete details please download Notification No.54311/SS1/2010/Fin  dated 04/11/2010 from here... Please read RBI press release from here...

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