Press Information Bureau

Government of India

Ministry of Finance

17-February-2016 19:51 IST

The Government of India has announced the repurchase of “1.44 per cent Inflation Indexed Government Stock-2023” through reverse auction for an aggregate amount of ₹ 3,990.72 crore (face value).

The repurchase by the Government of India will be undertaken to redeem the Government Stocks prematurely by utilizing surplus cash balances. The above repurchase of the Government Stocks is purely ad hoc in nature.

Auction for securities will be on price based auction format. The auctions will be conducted using multiple price method. Bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on February 22, 2016 (Monday) between 10.30 a.m. and 12.00 noon. The result of the auctions will be announced on the same day.

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DSM

Inflation-indexed bond repurchase via reverse auction, price-based; electronic bids required on E-Kuber with same-day results. Government to repurchase 1.44 per cent Inflation Indexed Government Stock-2023 by reverse auction for a specified aggregate face value as an ad hoc premature redemption using surplus cash balances. The auction will be price-based using a multiple-price method; electronic bids must be submitted on the Reserve Bank of India's E-Kuber system within the prescribed time window, and auction results will be announced on the same day.