The 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 ₹ 8,000 crore (nominal) through price based auction, (iii) “7.73 per cent Government Stock 2034” for a notified amount of ₹ 1,000 crore (nominal) through price based auction, and (iv) “8.17 per cent Government Stock 2044” 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 (RBI), Mumbai Office, Fort, Mumbai on February 05, 2016 (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 February 05, 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.

The result of the auctions will be announced on February 05, 2016 and payment by successful bidders will be February 08, 2016 (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 set for re-issue under price-based multiple price method with non-competitive bidding facility. Re-issue auctions of Central Government stocks will be conducted by the Reserve Bank of India using a price-based multiple price method, with up to five percent of each notified amount reserved for eligible participants under the Scheme for Non-Competitive Bidding. Competitive and non-competitive bids must be submitted electronically on the RBI's E-Kuber system within specified time windows on the auction day; results and payment/settlement will follow the published schedule. The re-issued stocks are eligible for when-issued trading under RBI guidelines.