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 ₹ 7,000 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, Mumbai Office, Fort, Mumbai on November 20, 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 November 20, 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 November 20, 2015 and payment by successful bidders will be November 23, 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.

Auction of government securities: re-issue conducted via multiple-price auction with electronic competitive and non-competitive bids. Re-issue auctions of four central government stocks will be conducted by price-based sale using the multiple price method; up to five percent of each notified amount is reserved under the Non-Competitive Bidding Facility. Competitive and non-competitive bids must be submitted electronically via the E-Kuber system within prescribed time windows. Auction results and a specified payment date follow, and the stocks are eligible for when-issued trading under existing guidelines.