EXTRAORDINARY
PUBLISHED BY AUTHORITY
No. 2069 CUTTACK, THURSDAY, NOVEMBER 07, 2019 / KARTIKA 16, 1941
FINANCE DEPARTMENT
NOTIFICATION
The 7th November, 2019
No. 37643-FIN-BUD3-PD-0003/2019/F.—Government of Odisha hereby notifies the sale of Odisha Government Stock (securities) of 3-years 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 11th November, 2019. 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 11th November, 2019.
2 (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. and12.00 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
13th November, 2019.
Method of Payment :
6. Successful bidders will make payments on 13th November, 2019 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 3-year tenure. The tenure of the stock will commence on 13th November, 2019.
Date of Repayment :
8. The loan will be repaid at par on 13th November, 2022.
Rate of Interest :
9. The cut-off yield determined at the auction will be the coupon rate per cent per
13th May and 13th November.
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
A. K. K. MEENA
Principal Secretary to Government