The Andhra Pradesh Government is offering to sell Rs 1,000 crore worth of dated securities (of 10-year tenure) by way of auction.
According to a notification issued by the Reserve Bank of India, the yield-based auction under multiple price format, will be conducted on the negotiated dealing system on February 7.
Both competitive and non-competitive bids for the auction should be submitted in electronic format on the negotiated dealing system on the above-said date.
The results of the auction will be displayed on the same day. Successful bidders will have to make payments on February 8, the notification said.