The Government of Maharashtra has notified the repurchase of its Securities through reverse auction for an aggregate amount of₹ 11,290 crore (face value). The security-wise details of the repurchase are given as under: | Sr. No. | Nomenclature | Date of Maturity | | 1. | 9.60 per cent Maharashtra SDL 2023 | August 14, 2023 | | 2. | 9.51 per cent Maharashtra SDL 2023 | September 11, 2023 | | 3. | 9.25 per cent Maharashtra SDL 2023 | October 09, 2023 | | 4. | 9.39 per cent Maharashtra SDL 2023 | November 20, 2023 | | 5. | 9.50 per cent Maharashtra SDL 2023 | December 18, 2023 | | 6. | 9.35 per cent Maharashtra SDL 2024 | January 30, 2024 | | 7. | 9.63 per cent Maharashtra SDL 2024 | February 12, 2024 | The repurchase by the Government of Maharashtra will be undertaken to prematurely redeem the specified State Development Loans (SDLs) by utilizing its surplus cash balances. The above repurchase of the specified State Development Loans (SDLs) is purely ad hoc in nature. Auction for securities will be on price based auction format. The auctions will be conducted using multiple price method. Bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on March 29, 2017 (Wednesday) between 10.30 a.m. and 12.00 noon. The result of the auctions will be announced on the same day & settlement will take place on March 30, 2017. RBI reserves the right to: -
Decide on the quantum of purchase of individual securities. -
Accept less than the aggregate amount of ₹ 11,290 crore. -
Purchase marginally higher than the aggregate amount due to rounding off effects. -
Accept or reject any or all of the offers either wholly or partially without assigning any reason. Ajit Prasad
Assistant Adviser Press Release: 2016-2017/2548 | |