TN, Telangana, MP to issue UDAY bonds worth Rs 181.08 billion

Madhya Pradesh, Tamil Nadu and Telangana plan to issue UDAY bonds to raise Rs 181.08 billion. The bonds will be issued by the states on a private placement basis. While Tamil Nadu will offer bonds worth Rs 88.15 billion, Madhya Pradesh and Telangana will provide securities worth Rs 73.6 billion and Rs 19.32 billion respectively. Participants will have to place a minimum bid of Rs 1 billion and RBI will reserve the right to accept or reject any or all of the bids at its sole discretion.