The territorial administration will auction on January 8 dated securities with a tenure of 10 years for an aggregate amount of Rs. 150 crore.

The auction will be conducted by the Reserve Bank of India at its Mumbai office, Secretary to Government (Finance) Raajiv Yaduvanshi said in a release.

The securities would be issued for a minimum nominal amount of Rs. 10,000 and in multiples of Rs. 10,000 thereafter. Interested persons, firms, companies, corporate bodies, provident fund trusts, regional rural banks, co-operative banks should submit a single consolidated non-competitive bid on behalf of all its constituents in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) available on the Tuesday between 10.30 a.m. and 11.30 a.m., the release said.

The result of auction would be put on the RBI website on Tuesday. Successful bidders should deposit the price amount of the stock covered by their bids by means of a Banker’s Cheque or Demand Draft payable at RBI office at Mumbai or Chennai on January 9 before the close of banking hours, the release said.

The government stock would bear interest at the rate determined by the RBI at the auction. Interest would be paid on July 9 and January 9 for every financial year until repayment. The stocks would qualify for Ready Forward Facility, the release said.