The Goa government has offered to sell Rs.200 crore worth of state stock securities, a statement issued by the state’s department of information and technology said Friday. “The auction will be conducted by the Reserve Bank of India (RBI) at its Mumbai office on March 5,” the statement said. The auction is also open for eligible individuals and institutions on non-competitive basis to the maximum limit of 10 percent of the notified amount. “The Goa government stock will be issued for a minimum amount of Rs.10,000 (face value) and in multiples thereof,” the statement said.
The competitive bids will be submitted electronically on the RBI Core Banking Solution (E- Kuber) system on March 5 morning, and the auction’s result will be displayed on the central bank’s website on the same day.
The government has offered to repay the loan by 2023.