Government of India have announced the sale (re-issue) of “1.44% Inflation Indexed Government Stock-2023” for a notified amount of Rs. 1,000 crore (nominal) through price based auction. The auction will be conducted using uniform price method. The auction will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on June 25, 2013 (Tuesday).

Up to 20% of the notified amount of the sale of the stocks will be allotted to eligible individuals and Institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.

Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system June 25, 2013. The non-competitive bids should be submitted between 10.30 a.m. and 11.30 a.m. and the competitive bids should be submitted between 10.30 a.m. and 12.00 noon.  

The result of the auctions will be announced on June 25, 2013 and payment by successful bidders will be on June 26, 2013 (Wednesday).  

The sale (re-issue) of 1.44% Inflation Indexed Government Stock-2023” for a notified amount of Rs. 1,000 crore would be issued within the budgeted Government market borrowing programme (about Rs. 579,000 crore) for 2013-14 and indicative calendar for the marketable dated securities for the first half of 2013-14.  

 

DSM/RS/ka

(Release ID :96712)

Inflation-indexed government stock auction using uniform price method with non-competitive allocation and electronic bidding windows. Re-issue of 1.44% Inflation Indexed Government Stock 2023 will be offered via a price-based auction using the uniform price method, with competitive and non-competitive electronic bids to be submitted on the RBI E-Kuber system within prescribed time windows; up to twenty percent of the notified amount is reserved for eligible individuals and institutions under the Non-Competitive Bidding Facility. Auction results will be announced on the auction day and payment is scheduled on the following business day, and the issuance is to occur within the budgeted Government market borrowing programme and indicative securities calendar.