Tamil Nadu government to mobilise Rs 1,200 crore through securities auction

CHENNAI: The Tamil Nadu government today announced the sale of 10 year securities in the form of stock to public for an aggregate sum of Rs 1,200 crore through auction.

The acution will be conducted by Reserve Bank of India at its Mumbai Office on October 1, 2012, Principal Finance Secretary K Shanmugam said in a statement.

Competitive and non-competitive bids can be submitted electronically between 10.30 am -12 noon and 10.30am -11.30am respectively, on the Negotiated Dealing System, he said.