Himachal Pradesh's Financial Strategy: A 22-Year Government Stock Initiative
The Himachal Pradesh government issues a 22-year government stock to raise Rs 1,000 crore amidst a financial crunch. The auction, conducted by the RBI, will use electronic bids via the E-Kuber system. The funds will support development initiatives, with interest paid semi-annually until maturity in 2047.
- Country:
- India
In a bid to alleviate its financial difficulties, the Himachal Pradesh government has announced a new government stock issuance with a 22-year tenure, aimed at raising Rs 1,000 crore for development projects. The announcement was made by state officials on Saturday.
Scheduled for July 29, 2025, the auction will be overseen by the Reserve Bank of India (RBI) at its Mumbai office. All bids are to be submitted electronically via the RBI's E-Kuber Core Banking Solution, with central government approval secured as per Article 293(3) of the Constitution.
The offered securities will begin on July 30, 2025, and will mature on July 30, 2047. Successful bidders are expected to fulfill payments on July 30, 2025, with bid results available on the RBI website the same day. This move follows previous loan procurement via government securities in earlier years.
(With inputs from agencies.)
ALSO READ
RBI's Successful Bond Auctions Reflect Strong Investor Confidence
RBI Auctions Attract Strong Demand for Government Bonds
India to Auction Rs 32,000 Crore in Long-term Government Bonds
RBI Raises Rs 21,000 Crore in T-Bill Auction Amid Strong Investor Demand
Coal Auctions Fuel Economic Growth and Employment Surge
Google News