Govt announces sale of 5 yr security by auction for Rs 100 cr

The Puducherry government today announced sale of five year securities in the form of stocks to the public by auction for an aggregate amount of Rs 100 crore.
The auction would be conducted by the Reserve Bank of India at Fort Mumbai on December 19, Finance Secretary V Candavelou said in a release.
The securities would be issued for a minimum nominal amount of Rs 10,000 and in multiples of Rs 10,000 thereafter, he said.
The official said that the government stock would bear interest at the rate determined by the RBI at the auction.
Interest would be paid on June 20 and December 20 of every financial year until repayment.

The stocks will qualify for Ready Forward Facility, he said.