The sale of Haryana government stock (securities) of 4-year tenure for an aggregate amount of Rs. 1,000 crore (Nominal) has been notified by the state.
The notification to this effect has been issued by the finance department of Haryana, an official spokesperson said here on Friday.
As per the notification, the proceeds of the loan will be utilised to finance State Plan Outlay in connection with the development programmes of the state government.
The auction of the government stock will be conducted by the Reserve Bank at its Mumbai office on June 24, 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 RBI on its website on the same day.
The spokesman said that interest will be paid on December 25 and June 25.
The stock will be of 4-year tenure, commencing on June 25, 2014. The loan will be repaid at par on June 25, 2018.