TAMIL NADU

GOVERNMENT GAZETTE

EXTRAORDINARY

PUBLISHED BY AUTHORITY

©

[Regd. No. TN/CCN/467/2012-14.

GOVERNMENT OF TAMIL NADU

[R. Dis. No. 197/2009.

2023

[Price: Re. 0.80 Paise.

No. 175]

CHENNAI, THURSDAY, MAY 11, 2023

Chithirai 28, Sobakiruthu, Thiruvalluvar Aandu-2054

Part II—Section 1

Notifications or Orders of specific character or of particular interest to the

public issued by Secretariat Departments.

NOTIFICATIONS BY GOVERNMENT

Ex-II-1(175)

[ 1 ]

FINANCE DEPARTMENT

MARKET BORROWING PROGRAMME OF STATE GOVERNMENT BY AUCTION

Secretariat, May 11, 2023.

No. II(1)/FIN/14(b)/2023.

The following Notifi cation is published:—

NOTIFICATION

[No. 658(L)/W&M-II/2023]

Government of Tamil Nadu hereby notifi es the sale of Tamil Nadu Government Stock (Securities) of

10-year tenure for an aggregate amount of Rs.2000 crore (Nominal). The sale will be subject to the terms and

conditions spelt out in this notifi cation (called Specifi c Notifi cation) as also the terms and conditions specifi ed in

the General Notifi cation No.644(L)/W&M-II/2023, dated February 22, 2023 of Government of Tamil Nadu.

Object of the Loan:

1.

(i) To Finance Part of Capital expenditure of Plan Schemes and other Development Schemes under

execution.

(ii) Consent of Central Government has been obtained to the fl oatation of this loan as required by

Article 293(3) of the Constitution of India.

Method of Issue:

2. The 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 Notifi cation

No.644(L)/W&M-II/2023, dated February 22, 2023 at a coupon rate to be determined by the Reserve Bank of

India at the yield based auction under multiple price formats.

2

TAMIL NADU GOVERNMENT GAZETTE EXTRAORDINARY

PRINTED AND PUBLISHED BY THE DIRECTOR OF STATIONERY AND PRINTING, CHENNAI

ON BEHALF OF THE GOVERNMENT OF TAMIL NADU

Allotment to Non-competitive Bidders:

3. The Government Stock up to 10% of the notifi ed amount of the sale will be allotted to eligible individuals

and institutions subject to a maximum limit of 1% of the notifi ed 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

Notifi cation (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 May 16, 2023. 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 May 16, 2023. .

(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 May 17, 2023.

Method of Payment:

6. Successful bidders will make payments on May 17, 2023 before close of banking hours by means of

cash, bankers’ cheque/pay order, demand draft payable at Reserve Bank of India, Mumbai/Chennai or a cheque

drawn on their account with Reserve Bank of India, Mumbai (Fort)/Chennai.

Tenure:

7. The Stock will be of 10 year tenure. The tenure of the stock will commence on May 17, 2023.

Date of Repayment:

8. The loan will be repaid at par on May 17, 2033.

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 November 17 and May 17.

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 Tamil Nadu)

N. MURUGANANDAM,

Additional Chief Secretary to Government of Tamil Nadu,

Finance Department.