Government of India have announced the Sale (re-issue/issue) of (i)“ 8.12 percent Government Stock 2020” for a notified amount of Rs.3,000 crore (nominal) through price based auction,

(ii) “8.33 percent Government Stock 2026” for a notified amount of Rs.6,000 crore (nominal) through price based auction , (iii) “8.32 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 August 8, 2013 (Thursday).

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 8, 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 8, 2013 and payment by successful bidders will be on August 12, 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.

Auction of government securities: uniform-price sale with non-competitive allotment, electronic bidding, when-issued trading eligible and scheduled payment. Sale (re-issue) auctions of four government stocks will be conducted by the Reserve Bank of India on August 8, 2013 using the uniform price method; bids must be submitted electronically on E-Kuber (competitive bids 10:30 a.m.-12:00 noon; non-competitive bids 10:30 a.m.-11:30 a.m.). Up to 5% of each notified amount is reserved for eligible individuals and institutions under the Non-Competitive Bidding Facility. Results will be announced August 8 and payment by successful bidders is scheduled for August 12. The stocks are eligible for When Issued trading under RBI guidelines.