The Government of India have announced the Sale (re-issue) of (i) “7.68 per cent Government Stock 2023” for a notified amount of ₹ 2,000 crore (nominal) through price based auction, (ii)“7.72 per cent Government Stock 2025” for a notified amount of ₹ 6,000 crore (nominal) through price based auction, (iii) “8.24 per cent Government Stock 2033” for a notified amount of ₹ 3,000 crore (nominal) through price based auction, and (iv) “8.13 per cent Government Stock 2045” 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 11, 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 11, 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 11, 2015 and payment by successful bidders will be September 14, 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 stocks under price-based multiple-price method; non-competitive facility for eligible investors enabled. Re-issue of four government stocks via price-based auction using the multiple price method, with specified notified amounts. Up to 5% of each issue is reserved for eligible individuals and institutions under the Non-Competitive Bidding Facility. Competitive and non-competitive bids must be submitted electronically on E-Kuber within prescribed time windows on the auction day. Auction results and payment/settlement are scheduled on specified dates. The stocks are eligible for When Issued trading per central bank guidelines.