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) “8.15 per cent Government Stock 2026” for a notified amount of ₹ 7,000 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) “8.17 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 April 10, 2015 (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 April 10, 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.     

The result of the auctions will be announced on April 10, 2015 and payment by successful bidders will be on April 13, 2015 (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: multiple-price auctions with competitive and reserved non-competitive bidding, electronic submission and planned settlement. Sale by price-based auction of re-issued Central Government stocks using the multiple-price method, administered by the central bank with electronic bid submission through a core banking system. Both competitive and non-competitive bids are permitted, with up to five percent of each notified amount reserved for non-competitive bidders; specified morning windows apply for bid submission. Auction results are announced on the auction date and payment is settled on the subsequent business day. Re-issued stocks are eligible for When Issued trading under existing central government securities guidelines.