Mar 17, 2017 09:56 PM IST | Source: PTI

TN, Telangana, MP to issue UDAY bonds worth Rs 18,107 crore

Madhya Pradesh, Tamil Nadu and Telangana will issue UDAY bonds on a private placement basis to raise a total of Rs 18,107.93 crore.

TN, Telangana, MP to issue UDAY bonds worth Rs 18,107 crore

Madhya Pradesh, Tamil Nadu and Telangana will issue UDAY bonds on a private placement basis to raise a total of Rs 18,107.93 crore.

The scheme has been introduced by the government to bail out loss making power utilities.

Break-up wise, Tamil Nadu will offer securities worth Rs 8,815 crore under the Ujjwal Discom Assurance Yojana (UDAY) scheme; Madhya Pradesh Rs 7,360 crore and Telangana Rs 1,932.93 crore.

Eligible market participants need to place their bids between 10:30 AM to 12 noon on March 21, Reserve Bank said in a release.

The securities are to be allotted on March 22.

A participant will have to place minimum bid of Rs 100 crore, RBI said.

RBI reserves the right to accept or reject any/all bids at its sole discretion. Power Ministry in November 2015 had issued memorandum on UDAY for operational and financial turnaround of power distribution companies (discoms).
Sections
Follow us on
Available On