The Government of India have announced the Sale (issue/re-issue) of (i)“ New 6 year Government Stock” for a notified amount of Rs.4,000 crore (nominal) through yield 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.2,000 crore (nominal) through price based auction,  and (iv) “8.30 per cent 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 June 6, 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 June 6, 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 June 6, 2014 and payment by successful bidders will be on June 9, 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.

Department of Economic Affairs, Ministry of Finance, Government of India

North Block, New Delhi-110001

Auction of Government Stocks under uniform price method; non-competitive bids allowed and electronic bidding windows specified. Announcement of government stock auctions conducted under the uniform price method allowing competitive and non-competitive bids, with up to 5% reserved for eligible individuals and institutions under the non-competitive bidding scheme; electronic bids must be submitted through the designated core banking system within prescribed time windows and successful bidders must remit payment on the notified settlement date. The stocks are eligible for 'When Issued' trading pursuant to applicable guidelines.