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FCI bond issue oversubscribed

NEW DELHI: The Food Corporation of India has received a subscription of Rs. 3,530 crore for the third private placement issue of FCI bonds against the target size of Rs. 976.50 crore. The issue has been over-subscribed by more than 3.5 times. The corporation has decided to retain the entire Rs. 976.50 crore under the five-year tenure at a cut-off coupon rate of 7.18 per cent.

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