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) “8.60 per cent Government Stock 2028” 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 ₹ 3,000 crore (nominal) through price based auction, and (iv) “8.30 per cent Government Stock 2040” 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, Mumbai Office, Fort, Mumbai on January 23, 2015 (Friday).

2. 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.

3. 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 January 23, 2015. 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.

4. The result of the auctions will be announced on January 23, 2015 and payment by successful bidders will be on January 27, 2015 (Tuesday).

5. 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 vide circular No. RBI/2006-07/178 dated November 16, 2006 as amended from time to time.

Government securities auction rules: re-issue conducted by multiple-price auction with non-competitive allocation and e-bidding and scheduled settlement. Re-issue of specified central government stocks will be offered through electronic auction using the multiple price method on the RBI's E-Kuber platform; up to 5% of each notified amount is reserved for eligible applicants under the Non-Competitive Bidding Facility. Non-competitive and competitive bids must be submitted in electronic format within prescribed time windows, auction results will be announced on the auction date, payment/settlement will follow on the appointed business day, and the stocks are eligible for when-issued trading under RBI guidelines.