The Government of India have announced the Sale (issue/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) “7.72 per cent Government Stock 2025” for a notified amount of  Rs. 6,000 crore (nominal) through price based auction, (ii) “8.24 per cent Government Stock  2033” for a notified amount of ₹ 3,000 crore (nominal) through price based auction, and (iv) “New 30 year Government Stock 2045” for a notified amount of  ₹ 3,000 crore (nominal) through yield 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 19, 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 19, 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 19, 2015 and payment by successful bidders will be on June 22, 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: multiple-price sale with competitive and non-competitive bids via e-kuber, reserved allotment for individuals. Auction of central government securities on June 19, 2015 will use the multiple price method, combining price-based and yield-based issues, conducted by the central banking agency via an electronic bidding platform. Both competitive and non-competitive bids are allowed, with up to five percent of notified amounts reserved for eligible individuals and institutions under the non-competitive bidding scheme; non-competitive and competitive bids have specified morning submission windows, results are announced the same day, payment occurs on the prescribed settlement date, and the stocks are eligible for when-issued trading.