Government of India have announced the Sale (re-issue) of (i) “7.35 per cent Government Stock 2024” 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, Mumbai Office, Fort, Mumbai on July 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 July 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 July 10, 2015 and payment by successful bidders will be on July 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 vide circular No. RBI/2006-07/178 dated November 16, 2006 as amended from time to time.

Government securities auction via price-based multiple-price method with non-competitive bidding and when-issued trading eligibility. Re-issue auction of four Central Government stocks will be conducted by the Reserve Bank of India via a price-based multiple-price auction, allowing both competitive and non-competitive bids; non-competitive bids are eligible for allotment up to five percent of each notified issue under the Scheme for Non-Competitive Bidding Facility. Bids must be submitted electronically on the Reserve Bank's E-Kuber system within specified time windows. The announcement provides for same-day auction results and a subsequent payment date, and confirms eligibility of the stocks for when-issued trading under Reserve Bank guidelines.