Press Information Bureau

Government of India

Ministry of Finance

31-August-2015 19:15 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  ₹ 2,000 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 September 04, 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

September 04, 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 September 04, 2015 and payment by successful bidders will be on September 07, 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

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DSM/MAA/KA

Government securities auction using multiple price method with electronic bidding and reserved non competitive allocation. Sale by re-issue of multiple Government stocks will be conducted through price based auctions using the multiple price method on a specified date; bids must be submitted electronically via the central bank's E Kuber system with separate timed windows for non competitive and competitive bids. Up to 5% of each notified amount is reserved for eligible non competitive bidders under the Scheme for Non Competitive Bidding Facility. Auction results, payment/settlement dates, and eligibility for when issued trading under existing central bank guidelines are specified.