Thursday, 23 February 2017

Himachal Pradesh to issue Rs 2890.50 cr bonds under UDAY scheme

Himachal Pradesh government will issue on Monday bonds worth Rs 2890.50 crore under UDAY, a bailout plan chalked out for the loss-making power distribution companies. "Himachal Pradesh Government proposes to issue Special Securities of a notified amount of Rs 2890.50 crore, under the Ujjwal Discom Assurance Yojna Scheme (UDAY)," the Reserve Bank said in a notification. 

Eligible participants can subscribe to these special bonds between 10.30 AM to 12 Noon on February 27, 2017. The Power Ministry had made UDAY scheme operational in November 2015 for financial turnaround of power distribution companies (discoms). "Allotment of securities and settlement will take place on February 28, 2017," the RBI said.

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