The Government of India have announced the Sale (issue/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) “New Government Security maturing on March 20, 2029” for a notified amount of ₹ 7,000 crore (nominal) through yield 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
 Rs. 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 October 16, 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 October 16, 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 October 16, 2015 and payment by successful bidders will be October 19, 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 non-competitive facility and electronic bidding windows, plus when-issued trading eligibility. Announcement of re-issue auctions for specified Central Government stocks to be conducted by the Reserve Bank of India using the multiple price method. Up to five percent of each issue is reserved for eligible investors under the Non-Competitive Bidding Facility. Competitive and non-competitive bids must be submitted electronically on the RBI E-Kuber system within prescribed time windows; the release fixes the auction result announcement and the settlement/payment date. The stocks are eligible for When Issued trading under RBI guidelines.