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 Money & Banking - Govt Bonds


Kerala State bond auction successful

Our Bureau

MUMBAI: The Kerala State loan auction for Rs 250 crore held on Thursday was fully subscribed, a press release from the RBI said.

The RBI received 70 bids, amounting to Rs 1,244.31 crore. The cut-off yield was 7.32 per cent. Of these, the RBI accepted three bids amounting to Rs 250 crore. Partial allotment percentage was 94 per cent from 1 bid. The weighted average yield was 7.31 per cent.

The amount of underwriting accepted from primary dealers was nil. A dealer with a private bank said bond prices increased 2-3 paise after the auction results were announced.

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