TG, AP to raise `19k-cr via bond sale

Hyderabad: Both the Telugu States-Telangana and Andhra Pradesh-gearing up to raise over Rs19,000 crore by auctioning government securities during December quarter. Telangana is planning to raise Rs9,000 crore by selling the state government securities in the open market auction during the October-December quarter, according to an Indicative Calendar of Market borrowings by the State Government. Further, Andhra Pradesh is also planning to raise another Rs10,000 crore by selling state government securities in the open market auction during the October-December quarter, according to an Indicative Calendar of Market borrowings by the state government. Andhra already raised Rs1,900 crore via bonds auction in the open market on October 7.

According to the Reserve Bank of India (RBI) calendar, Telangana is likely to raise Rs2,000 crore in October, a similar amount in November and Rs5,000 crore in December. Up to August 31, the Telangana government’s borrowings stood at Rs33,415.15 crore, (nearly 62 per cent) as against the estimated little over Rs54,000 crore. Last month, the state raised Rs15,500 crore via bonds auction in the open market.