Tap sale of 6.20 per cent State Development Loans, 2015 closed

The sale `on tap' of 6.20 per cent twelve year State Development Loans, 2015 in respect of 28 State Governments opened for subscription on August 25, 2003 for a target amount of Rs.8000 crore. The issue has been oversubscribed. Accordingly, the tap sale has been closed today. Excess subscriptions are being refunded to the applicants after making partial allotment in respect of states whose loans are oversubscribed.