CHENNAI: Announcing that auction for its bonds would be held on February 27, the Tamil Nadu government has informed that bids must be submitted electronically by the same day. A press release issued by the Additional Chief Secretary to the Finance department said the auction would be conducted by the Reserve Bank of India at its Mumbai Office, Fort, Mumbai, on February 27.
Competitive bids shall be submitted electronically in the Reserve Bank of India Core Banking Solution (E-Kuber) System between 10.30 am and 12 pm and non-competitive bids between 10.30 am and 11.30 am.
The government has announced sale of 10-year securities in the form of stock to the public by auction for an aggregate amount of Rs 1,500 crore.