16 April 2007: Five state governments today announced auctions of `State Development Loans 2017` for to raise Rs 18.37 billion pr 19.The Reserve Bank of India (RBI) will conduct a yield based auction using multiple price auction method.
At this auction, Rajasthan will auction the loans for a notified amount of Rs 7.5 billion while Maharashtra and Gujarat will raise Rs 5 billion and Rs 4 billion respectively. Mizoram and Nagaland are set to raise Rs 470 million and Rs 1.4 billion respectively at this auction.
The apex bank has specified that the stocks will qualify for the ready forward facility.The results of the auction will be announced Apr. 19, 2007 and payment by successful bidders will be during banking hours on Apr. 20, 2007.
Source: MyIris.com
