The Government of India have announced the Sale (re-issue) of (i)“ 8.35 per cent Government Stock 2022” for a notified amount of ₹ 2,000 crore (nominal) through price based auction, (ii) “8.60 per cent Government Stock 2028” for a notified amount of ₹ 7,000 crore (nominal) through price based auction , (iii) “9.20 per cent Government Stock 2030” for a notified amount of ₹ 2,000 crore (nominal) through price based auction,  and (iv) “8.30 per cent Government Stock 2042” for a notified amount of ₹ 3,000 crore (nominal) through price based auction. The auctions will be conducted using Multiple price method. The auctions will be conducted by the Reserve Bank of India (RBI), Mumbai Office, Fort, Mumbai on August 8, 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 August 8, 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 August 8, 2014 and payment by successful bidders will be on August 11, 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: re-issue conducted by price-based multiple-price method with non-competitive bid reservation and E Kuber filing. Announcement of a price-based re-issue auction of Central Government dated securities using the price-based multiple-price method, with notified nominal amounts and up to five percent reserved under the Non-Competitive Bidding Facility. Bids must be submitted electronically on the RBI E-Kuber system within prescribed windows; the result and payment dates are specified, and the re-issued stocks are eligible for When Issued trading under existing RBI guidelines.