March 7, 2014 / 12:27 PM / 3 years ago

Eleven Indian states to raise at least $1.40 bln via loans on March 11-cbank

MUMBAI, March 7 (Reuters) - Eleven state governments will
raise a minimum of 85.45 billion rupees ($1.40 billion) via
loans on March. 11, the Reserve Bank of India said on Friday.
    Ten states will sell 10 year bonds in the auction, while
Gujarat will raise at least 7 billion rupees via four-year
loans.
    Following are the details of the auction:
    
 Sr.   Name of the State  Notified amount
 No.                      (bln Rupees)
 1.    Andhra Pradesh*    17.50
 2.    Gujarat*#          7.00
 3.    Haryana            12.90
 4.    Jharkhand          5.00
 5.    Nagaland           0.20
 6.    Sikkim             0.35
 7.    Tamil Nadu*        10.00
 8.    Tripura            1.50
 9.    Uttarakhand        10.00
 10.   Uttar Pradesh      10.00
 11.   West Bengal        10.00
       Total              84.45
 * Andhra Pradesh, Gujarat & Tamil Nadu will have option to
retain additional subscription of 2.50 billion rupees, 2.10
billion rupees and 2.50 billion rupees respectively over the
notified amount.

    ($1 = 61.2500 Indian rupees)

 (Reporting by Himank Sharma; Editing by Anupama Dwivedi)

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