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 July 29, 2013 (Monday).

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 on July 29, 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 auction will be announced on July 29, 2013 and payment by successful bidders will be on July 30, 2013 (Tuesday).  

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. 5,79,000 crore) for 2013-14 and indicative calendar for the marketable dated securities for the first half of 2013-14.  

DSM/RS/ka

(Release ID :97394)

Inflation-indexed government stock auction: uniform-price sale with reserved non-competitive facility and electronic bidding deadlines, result and payment scheduled promptly. The re-issue of 1.44% Inflation Indexed Government Stock 2023 will be sold via a uniform price method auction administered by the Reserve Bank of India, with up to twenty percent of the notified amount allotted under the Non-Competitive Bidding Facility. Both competitive and non-competitive electronic bids must be submitted on the E-Kuber system within prescribed time windows on the auction date; results will be announced the same day and payment scheduled soon after. The issue falls within the Government's budgeted market borrowing programme and the indicative calendar for marketable dated securities.