The Government of India have announced the Sale (re-issue) of (i)“ 7.80 per cent Government Stock 2020” for a notified amount of Rs. 4,000 crore (nominal) through price based auction, (ii) “8.83 per cent Government Stock 2023” for a notified amount of Rs. 7,000 crore (nominal) through price based auction , (iii) “8.32 per cent Government Stock 2032” for a notified amount of Rs. 3,000 crore (nominal) through price based auction, and (iv) “8.30 per cent 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 (RBI), Mumbai Office, Fort, Mumbai on May 23, 2014 (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

May 23, 2014. 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 May 23, 2014 and payment by successful bidders will be on May 26, 2014 (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.

Government securities auction: uniform price sale with reserved non-competitive allotment and electronic bidding, followed by scheduled settlement. The Reserve Bank of India will conduct uniform price auctions for the re-issue of four Central Government stocks on the announced auction date, with up to 5% of each notified amount reserved for eligible participants under the non-competitive bidding scheme. Competitive and non-competitive bids must be submitted electronically on the RBI Core Banking Solution (E-Kuber) within prescribed bid windows. Auction results will be announced on the auction date and payment/settlement will occur on the designated subsequent banking day. The stocks are eligible for when-issued trading under RBI guidelines.