Press Information Bureau

Government of India

Ministry of Finance

03-August-2015 18:36 IST

The Government of India have announced the Sale (re-issue) of (i) “7.35 per cent Government Stock 2024” for a notified amount of  Rs. 2,000 crore (nominal) through price based auction,
(ii)“7.88 per cent Government Stock 2030” for a notified amount of  Rs. 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 August 07, 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 August 07, 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 August 07, 2015 and payment by successful bidders will be on August 10, 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.

Department Of Economic Affairs, Ministry of Finance, Government of India

North Block, New Delhi-110001

Auction of government securities provides price-based multiple-price issuance with non-competitive allocation and electronic bidding on E-Kuber. Announcement of re-issue of multiple government stocks through price-based auctions using the multiple price method, with up to five percent of each notified amount reserved under the Non-Competitive Bidding Facility. Competitive and non-competitive bids must be submitted electronically on the E-Kuber system within prescribed windows on the auction day; auction results will be declared on that date and payment by successful bidders will occur on the stated settlement date. Re-issued stocks will be eligible for when issued trading per existing guidelines.