The 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) “8.83 percent Government Stock 2023” 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(RBI), Mumbai Office, Fort, Mumbai on December 6, 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 December 6, 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 December 6, 2013 and payment by successful bidders will be on December 9, 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 (RBI) vide circular No. RBI/2006-07/178 dated November 16, 2006 as amended from time to time.

Auction of Government Stocks: uniform-price sale with electronic competitive and non-competitive bids and limited non-competitive allocation. Re-issue auctions of multiple Central Government stocks will be conducted by the Reserve Bank of India using the uniform price auction method with competitive and non-competitive electronic bids submitted via the E-Kuber system within specified windows. A limited portion of each notified amount is reserved for eligible individuals and institutions under the Scheme for Non-Competitive Bidding Facility. Results will be announced on the auction date and payment/settlement will occur on the scheduled payment date. The stocks will be eligible for When Issued trading under RBI guidelines.