EXTRAORDINARY

PUBLISHED BY AUTHORITY

No. 1552, CUTTACK, FRIDAY, AUGUST 24, 2018/ BHADRA 2, 1940

FINANCE DEPARTMENT

NOTIFICATION

The 24th August, 2018

No.27429–FIN-BUD3-PD-0005/2017/F.— Government of Odisha hereby notifies

the sale of Odisha Government Stock (securities) of 04(Four) 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 for financing development programme

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-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).

2

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 28th August, 2018. 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 28th August, 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 29th August,

2018.

Method of Payment:

6. Successful bidders will make payments on 29th August, 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 4-year tenure. The tenure of the stock will commence on

29th August, 2018.

Date of Repayment:

8. The loan will be repaid at par on 29th August, 2022.

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 29th February/ 1st

March & 29th August.

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

Additional Chief Secretary to Government

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

Ex. Gaz. 1029-173+05