Government of India have announced the Sale (re-issue) of (i) “7.68 per cent Government Stock 2023” for a notified amount of ₹ 3,000 crore (nominal) through price based auction, (ii) “7.59 per cent Government Stock 2026” for a notified amount of ₹ 7,000 crore (nominal) through price based auction, (iii) “7.73 per cent Government Stock 2034” for a notified amount of ₹ 2,000 crore (nominal) through price based auction, and (iv) “7.72 per cent Government Stock 2055” for a notified amount of ₹ 2,000 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 January 22, 2016 (Friday).

2. 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.

3. 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 January 22, 2016. 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.

4. The result of the auctions will be announced on January 22, 2016 and payment by successful bidders will be January 25, 2016 (Monday).

5. 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.

Government securities re-issue auction using price-based multiple-price method with reserved non-competitive allotment and electronic bidding. Re-issue auctions of multiple Government of India securities will be conducted by the Reserve Bank of India using a price-based multiple-price auction. Up to five percent of each notified amount is reserved for eligible individuals and institutions under the Non-Competitive Bidding Facility. Competitive and non-competitive bids must be submitted electronically via the Reserve Bank's E-Kuber system within specified submission windows. Auction results will be announced on the auction date and settlement will occur on the prescribed payment date. The stocks will be eligible for When Issued trading under the Reserve Bank's when-issued transaction guidelines.