GOVERNMENT OF KERALA

NOTIFICATION

Government of Kerala hereby notifies the sale of Kerala Government Stock (securities) of

18-years tenure for an aggregate amount of Rs. 1255 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 General Notification No. 18596/SS1/07/Fin.

dated July 20, 2007 of Government of Kerala.

Dated, Thiruvananthapuram, 12^th December, 2024.

SS-1/505/2024-FIN.

Finance Department

േകരള സർകാർ

Government of Kerala

2024

േകരള ഗസറ്

KERALA GAZETTE

അസാധാരണം

EXTRAORDINARY

ആധികാരികമായി ്പസിദെപടുതുനത

PUBLISHED BY AUTHORITY

Regn.No. KERBIL/2012/45073

dated 05-09-2012 with RNI

Reg No.KL/TV(N)/634/2021-2023

വാല്ം 13

Vol. XIII

തിരുവനനപുരം,

വ്ാഴം

Thiruvananthapuram,

Thursday

2024 ഡിസംബർ 12

12th December 2024

1200 വൃശികം 27

27th Vrischikam 1200

1946 അ്ഗഹായനം 21

21st Agrahayana 1946

നമർ

No.

3976

This is a digitally signed Gazette.

Authenticity may be verified through https://compose.kerala.gov.in/

Object of the Loan

(i) The proceeds of the loan will be utilized for financing productive development

programmes and projects to be implemented in the State.

(ii) Consent of Central Government has been obtained to the floatation of this loan as

required by Article 293(3) of the Constitution of India.

Method of Issue

2. 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 July 20, 2007 at a coupon rate to be determined by the

Reserve Bank of India at the yield based auction under multiple price formats.

Allotment to Non-Competitive Bidders

3. 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 (Annexure-II).

Place and Date of Auction

4. The auction will be conducted by the Reserve Bank of India, at its Mumbai Office, Fort,

Mumbai, 400 001 on December 17, 2024. Bids for the auction should be submitted in electronic

format, on the Reserve Bank of India Core Banking Solution (E-Kuber) system as stated below

on December 17, 2024.

(a) The competitive bids shall be submitted electronically on the Reserve Bank of India

Core Banking Solution (E-Kuber) system between 10:30 A.M and 11:30 A.M.

(b) The non-competitive bids shall be submitted electronically on the Reserve Bank of India

Core Banking Solution (E-Kuber) system between 10:30 A.M. and 11:00 A.M.

Result of the Auction

5. The result of the auction shall be displayed by the Reserve Bank of India on its website on

the same day. The payment by successful bidders will be on December 18, 2024.

This is a digitally signed Gazette.

Authenticity may be verified through https://compose.kerala.gov.in/

Method of Payment

6. Successful bidders will make payments on December 18, 2024 before close of banking

hours by means of cash, bankers’ cheque/pay order, demand draft payable at Reserve Bank of

India, Mumbai/Thiruvananthapuram or a cheque drawn on their account with Reserve Bank of

India, Mumbai (Fort)/Thiruvananthapuram.

Tenure

7. The Stock will be of 18-years tenure. The tenure of the Stock will commence on

December 18, 2024.

Date of Repayment

8. The loan will be repaid at par on December 18, 2042.

Rate of Interest

9. The cut-off yield determined at the auction will be the coupon rate percent per annum on the

Stock sold at the auction. The interest will be paid on June 18 and December 18.

Eligibility of Securities

10. The investment in Government Stock will be reckoned as an eligible investment in

Government Securities by banks for the purpose of Statutory Liquidity Ratio (SLR) under

Section 24 of the Banking Regulation Act 1949. The stocks will qualify for the ready forward

facility.

By order and in the name of the Governor of Kerala,

Ajit Patil IAS.,

Secretary (Finance Resources).

This is a digitally signed Gazette.

Authenticity may be verified through https://compose.kerala.gov.in/

____________________________________________________________________________________________________________________________

PUBLISHED BY THE SUPERINTENDENT OF GOVERNMENT PRESSES

AT THE GOVERNMENT CENTRAL PRESS, THIRUVANANTHAPURAM, 2024