The Government of India have announced the Sale (issue/re-issue) of (i)“ 8.12 percent Government Stock 2020” for a notified amount of Rs. 4,000 crore (nominal) through price based auction, (ii) “8.28 percent Government Stock 2027” for a notified amount of Rs. 7,000 crore (nominal) through price based auction, (iii)“ 9.20 percent Government Stock 2030” for a notified amount of Rs. 2,000 crore (nominal) through price based auction and (iv) “New 30 year Government Stock 2043” for a notified amount of Rs. 2,000 crore (nominal) through yield 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 20, 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 20, 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 20, 2013 and payment by successful bidders will be on December 23, 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 securities using uniform and yield-based methods; non-competitive bids allowed and when-issued trading permitted. The notice schedules auctions of multiple central government stocks on December 20, 2013, using the uniform price method for price-based issues and a yield based auction for a long-dated stock. Up to five percent of each notified amount is reserved under the Non-Competitive Bidding Facility; competitive and non-competitive bids must be submitted electronically within specified time windows. Results and payment follow the announced timetable, and the stocks will be eligible for When Issued trading under the central bank's guidelines.