India to Re-Issue Government Stocks Worth Rs. 15,000 Crore via Auction on January 3, 2014.

The Government of India announced the re-issue of four government stocks through a price-based auction, totaling Rs. 15,000 crore. The stocks include 8.12% Government Stock 2020, 8.24% Government Stock 2027, 9.20% Government Stock 2030, and 8.30% Government Stock 2042. The auction, conducted by the Reserve Bank of India in Mumbai on January 03, 2014, will use a uniform price method. Up to 5% of the stocks are reserved for eligible individuals and institutions under a non-competitive bidding scheme. Bids must be submitted electronically, with results announced the same day and payments due by January 06, 2014.