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 ₹ 2,000 crore (nominal) through price based auction, and  (iv) “8.13 per cent Government Stock 2045” 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 April 07, 2016 (Thursday).

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 April 07, 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 April 07, 2016 and payment by successful bidders will be April 11, 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.

Government securities auction via price-based multiple price method with non-competitive bidding and when-issued trading eligibility. Re-issue of four Central Government stocks will be conducted via price-based, multiple price auctions using the Reserve Bank of India's E Kuber electronic system. Up to 5% of each notified amount is allotted under the Scheme for Non-Competitive Bidding Facility to eligible individuals and institutions. Non-competitive and competitive bids must be submitted in specified windows on the auction day; auction results and the payment/settlement date follow shortly after. The stocks are eligible for When Issued trading under existing RBI guidelines.