TN to auction securities worth Rs 2,000 crore

TN to auction securities worth Rs 2,000 crore

Government of Tamil Nadu has announced the sale of 10 year securities in the form of Stock to the Public by auction for an aggregate amount of Rs.2000 crore.

According to a statement issued by the Finance (Ways and Means II) Department, the auction will be conducted by the Reserve Bank of India at its Mumbai Office, Fort, Mumbai, on November 08, 2016.

Competitive bids between 10.30 A.M. and 12.00 P.M. and non-competitive bids between 10.30 A.M. and 11.30 A.M. shall be submitted electronically.

These will be done on the Reserve Bank of India Core Banking Solution (E-Kuber) System on November 08, 2016, said the statement.

Almost around the same time last month, the Tamil Nadu government announced that it would sell securities worth Rs 1,000 crore through auction.

Additional Chief Secretary, Finance Department, K Shanmugam, said in a statement, “Government of Tamil Nadu has announced the sale of 10 year securities in the form of Stock to the Public by auction for an aggregate amount of Rs.1000.00 Crore.”