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The Andhra Pradesh Government will be auctioning dated securities of 10-year tenure to the tune of Rs 1,000 crore.
According to a notification issued by the Reserve Bank of India, a yield-based auction under the multiple price format would be conducted on May 22, 2012.
Government stock up to 10 per cent of the notified amount will be allotted to eligible individuals and institutions subject to a maximum limit of one per cent of the notified amount.
Retail investors can participate in the auction on a non-competitive basis through a bank or a primary dealer, RBI said.
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