Panaji, 19th May, 2017 (Vaisakha 29, 1939) SERIES I No. 7 PUBLISHED BY AUTHORITY
EXTRAORDINARY
GOVERNMENT OF GOA
Department of Finance
Debt Management Division __
Notification
5-4-2017-Fin(DMU)
(PDO) Fort, Mumbai–400 001 by auction in the manner as prescribed in paragraph 6.1 of the General Notification No. 5/2/2010/ /Fin (DMU) dated July 18, 2007 at a coupon rate to be determined by the Reserve Bank of India at the yield based auction under multiple price format.
Allotment to Non-competitive Bidders
Government of Goa hereby notifies the sale of Goa Government Stock (securities) of 10-year tenure for an aggregate amount of Rs. 150.00 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. 5/2/2010-Fin (DMU) dated July 18, 2007 of Government of Goa.
3. The Governments 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.
Place and Date of Auction
Object of the Loan
(i) The proceeds of the loans will be utilized for financing capital expenditure in connection with the development programmes of the Government of Goa.
(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.
4. The auction will be conducted by the Reserve Bank of India at its Mumbai Office, Fort, Mumbai 400 001 on May 23, 2017. 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 23, 2017.
Method of issue
OFFICIAL GAZETTE — GOVT. OF GOA SERIES I No. 7 (EXTRAORDINARY) 19TH MAY, 2017Date of Repayment
8. The loan will be repaid at par on
May 24, 2027.
(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.
Rate of Interest
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 24, 2017.
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 24 and May 24.
Eligibility of Securities
Method of Payment
6. Successful bidders will make payments on May 24, 2017 before close of banking hours by means of cash, bankers' cheque/ pay order, demand draft payable at Reserve Bank of India, Mumbai or a cheque drawn on their account with Reserve Bank of India, Mumbai (Fort)/Mumbai.
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 Goa.
Tenure
7. The stock will be of 10-year tenure. The tenure of the Stock will commence on May 24, 2017.
Daulat A. Hawaldar, Secretary (Finance).
Porvorim, 19th May, 2017.
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