Date:05/08/2005 URL: http://www.thehindubusinessline.com/2005/08/05/stories/2005080502241900.htm

Back 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.