Government of India have announced the Sale (re-issue/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.7,000 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) “7.40 percent Government Stock 2035” for a notified amount of Rs.2,000 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 August 2, 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 August 2, 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 August 2, 2013 and payment by successful bidders will be on August 5, 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/RS/Ka

(Release ID :97467)

Government securities auction to use uniform price method with non competitive allocation and specified electronic bidding windows. Re issue auctions for four Central Government stocks will be conducted using the uniform price method on the announced auction date; up to 5% of each notified amount is reserved for eligible individuals and institutions under the Non Competitive Bidding Facility. Both competitive and non competitive bids must be submitted electronically on the designated core banking auction platform within prescribed time windows. Auction results and the payment date are scheduled, and the stocks are eligible for when issued trading under existing guidelines.