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Last Updated : 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.

Power station
Power station

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.

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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).

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First Published on Mar 17, 2017 09:56 pm
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