Government of India have announced the Sale (re-issue) of (i)“ 7.28 percent Government Stock 2019” for a notified amount of Rs. 4,000 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) “8.32 percent Government Stock 2032” for a notified amount of Rs. 2,000 crore (nominal) through price based auction, and (iv) “8.30 percent Government Stock 2042” 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 November 8, 2013 (Friday).

2. 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.

3. 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 November 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.

4. The result of the auctions will be announced on November 8, 2013 and payment by successful bidders will be on November 11, 2013 (Monday).

5. 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.

Government securities auction: re-issue stocks offered via uniform price auction with competitive and non-competitive bidding. Re-issue auctions of central government securities will be conducted by the Reserve Bank of India using the uniform price method via the E-Kuber system; both competitive and non-competitive bids are permitted with non-competitive allotment capped at five percent under the Non-Competitive Bidding Facility, specified bidding windows apply, results will be announced on auction date, settlement will follow on the prescribed payment date, and the stocks will be eligible for When Issued trading under RBI guidelines.