Financial Daily from THE HINDU group of publications
Tuesday, Sep 02, 2003
Financial Daily from THE HINDU group of publications Tuesday, Sep 02, 2003 |
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Money & Banking
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Govt Bonds Kerala to issue power bonds Our Bureau
THIRUVANANTHAPURAM: The State Government has decided to issue tax-free power bonds worth Rs 57.91 crore to four power generation and distribution utilities. The bonds, each with a face value of Rs 1,000 and redeemable on October 1, 2008, carry an interest rate of 8.5 per cent. There is also a provision for paying interest on October 1 and April 1 every year, according to an official statement. The four utilities which have been allowed to invest in the bonds are National Thermal Power Corporation (Rs 50.12 crore), Power Grid Corporation of India Ltd (Rs 1.21 crore), Neyveli Lignite Corporation (Rs 6.36 crore) and Nuclear Power Corporation of India Ltd (Rs 22.54 lakh).
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