Government of India have announced the Sale (re-issue) of (i)“ 7.28 percent Government Stock 2019” for a notified amount of Rs. 3,000 crore (nominal) through price based auction,

(ii) “7.16 percent Government Stock 2023” for a notified amount of Rs. 6,000 crore (nominal) through price based auction , (iii) “8.28 percent Government Stock 2032” for a notified amount of Rs. 3,000 crore (nominal) through price based auction, and (iv) “8.30 percent Government Stock 2042” for a notified amount of Rs. 3,000 crore (nominal) through price based auction. The auctions will be conducted using uniform price method. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on July 19, 2013 (Friday).

Up to 5% 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 on July 19, 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 July 19, 2013 and payment by successful bidders will be on July 22, 2013 (Monday).  

The Stocks will be eligible for “When Issued” trading in accordance with the guidelines on ‘When Issued transactions in Central Government Securities’ issued by the Reserve Bank of India vide circular No. RBI/2006-07/178 dated November 16, 2006 as amended from time to time.

DSM/RSRS

(Release ID :97227)

Government securities auction using uniform price method with reserved non-competitive allocation and when-issued trading eligibility. Government securities will be re-issued by price-based auction conducted by the central bank using the uniform price method, with electronic submission of competitive and non-competitive bids on the central bank's core banking system, a reserved allocation under the Non-Competitive Bidding Facility, specified bid submission windows, a set payment/settlement date for successful bidders, and eligibility of the stocks for When Issued trading under existing central bank guidelines.