EXTRAORDINARY

PUBLISHED BY AUTHORITY

No. 840, CUTTACK, FRIDAY, JUNE 1, 2018 / JAISTHA 11, 1940

FINANCE DEPARTMENT

NOTIFICATION

The 1st June, 2018

No.17934–FIN-BUD3-PD-0005/2017/F.— Government of Odisha hereby notifies

the sale of Odisha Government Stock (securities) of 20 (Twenty) year tenure for an

aggregate amount of Rs.500.00 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.30674/F., dated the 20th

July, 2007 of Government of Odisha.

Object of the Loan:

1. (i) The proceeds of the loan will be utilized to finance capital outlay for

creation of capital assets.

(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-400001 by auction in the manner as prescribed in

paragraph 6.1 of the General Notification No.30674/F., dated the 20th July, 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-400001 on 5th June, 2018. Bids for the auction should be

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submitted in electronic format, on the Reserve Bank of India Core Banking Solution

(E-Kuber) system as stated below on 5th June, 2018.

(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

12.00 P.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 11.30 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 6th June,

2018.

Method of Payment:

6. Successful bidders will make payments on 6th June, 2018 before close of

banking hours by means of cash, bankers’ cheque / pay order, demand draft payable

at Reserve Bank of India, Mumbai / Bhubaneswar or a cheque drawn on their account

with Reserve Bank of India, Mumbai (Fort) / Bhubaneswar.

Tenure:

7. The stock will be of 20-year tenure. The tenure of the stock will commence on

6th June, 2018.

Date of Repayment:

8. The loan will be repaid at par on 6th June, 2038.

Rate of Interest:

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

per annum on the Stock sold at the auction. The interest will be paid on 6th December

& 6th June.

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 of the Governor

T. K. PANDEY

Principal Secretary to Government

Printed and published by the Director, Printing, Stationery and Publication, Odisha, Cuttack-10

Ex. Gaz. 317-173+05