The Haryana Government on Friday notified the sale of Haryana Government Stock (Securities) of 4-year tenure for an aggregate amount of Rs. 500 crore (Nominal).
A notification to this effect has been issued by the Finance Department of Haryana, an official spokesman said.
The auction of the government stock will be conducted by the Reserve Bank of India at its Mumbai office on May 27, 2014.
The government stock up to 10 per cent of the notified amount of the sale will be allotted to eligible individuals and institutions subject to a maximum limit of one per cent 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.
The results of the auction would be displayed by the Reserve Bank of India on its website on the same day, the spokesman said adding the successful bidders will make payments on May 28, 2014, before close of banking hours.
Interest will be paid on November 28 and May 28, the spokesman said adding the stock will be of 4-year tenure and the tenure of stock will commence on May 28, 2014. The loan will be repaid at par on May 28, 2018.