The Government of India have announced the Sale (re-issue) of (i) “7.68 per cent Government Stock 2023” for a notified amount of ₹ 3,000 crore (nominal) through price based auction, (ii)“7.88 per cent Government Stock 2030” for a notified amount of  ₹ 6,000 crore (nominal) through price based auction,  (iii) “7.95 per cent Government Stock  2032” 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 June 12, 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 June 12, 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 June 12, 2015 and payment by successful bidders will be on June 15, 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: price based re issue with competitive and non competitive bidding via RBI E Kuber, allotment reserved for eligible individuals. Sale by re issue of specified Central Government stocks is announced through price based auctions using the multiple price method, with up to five percent of each notified amount reserved for eligible individuals and institutions under the Non Competitive Bidding Facility. Competitive and non competitive bids must be submitted electronically on the RBI's E Kuber system within prescribed time windows on the auction date, auction results are declared on the same day, and payments by successful bidders follow on the scheduled settlement date. The re issued stocks are eligible for When Issued trading under existing RBI guidelines.