The Government of India have announced the Sale (re-issue) of (i) “8.27 per cent Government Stock 2020” for a notified amount of ₹ 3,000 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) “8.24 per cent Government Stock  2033” for a notified amount of ₹ 2,000 crore (nominal) through price based auction,  and (iv) “8.17 per cent Government Stock 2044” 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 December 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 December 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 December 19, 2014 and payment by successful bidders will be on December 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 bidding and electronic submission, followed by when-issued trading. Sale by re-issue of specified Central Government stocks through price-based auction using the multiple price method; competitive and non-competitive bids to be submitted electronically on the prescribed core banking auction platform within stipulated windows, with up to a reserved allotment quota for eligible individuals and institutions under the Scheme for Non-Competitive Bidding Facility; auction results announced on the auction day and payment by successful bidders on the prescribed settlement date; stocks eligible for when-issued trading under applicable when-issued transaction guidelines.