EXTRAORDINARY
PUBLISHED BY AUTHORITY
No. 1553, CUTTACK, FRIDAY, AUGUST 24, 2018/ BHADRA 2, 1940
FINANCE DEPARTMENT
PRESS COMMUNIQUE
The 24th August, 2018
1. Government of Odisha are going to sale Odisha Government Stock (securities) of 04(Four) year tenure for an aggregate amount of Rs500.00 crore (Nominal) in order to finance capital outlay in connection with creation of capital assets. Government Stock will be sold through the Reserve Bank of India, Mumbai Office(PDO), Fort, Mumbai – 400001 by auction at a coupon rate to be determined by the Reserve Bank of India.
2. 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.
3. 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. The loan will be repaid at par on 29th August, 2022.
4. 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.
T. K. PANDEY
Additional Chief Secretary to Government