The Government of India have announced the Sale (re-issue) of (i)“ 8.27 per cent Government Stock 2020” for a notified amount of ₹ 2,000 crore (nominal) through price based auction, (ii) “8.40 per cent Government Stock 2024” for a notified amount of ₹ 6,000 crore (nominal) through price based auction , (iii) “8.32 per cent Government Stock 2032” for a notified amount of ₹ 2,000 crore (nominal) through price based auction, and (iv) “9.23 per cent Government Stock 2043” for a notified amount of ₹ 2,000 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 September 19, 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 September 19, 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 September 19, 2014 and payment by successful bidders will be on September 22, 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: price-based multiple-price sale with non-competitive allocation via electronic bidding and scheduled settlement. Sale (re-issue) of four specified Government stocks will be conducted by the Reserve Bank of India through a price-based auction using the Multiple price method; bids must be submitted electronically on E-Kuber within prescribed non-competitive and competitive time windows, up to five percent of each issue is reserved under the Non-Competitive Bidding Facility, auction results will be announced on the auction date and payment by successful bidders is scheduled on the stated settlement date, and the Stocks are eligible for When Issued trading under RBI guidelines.