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(RBI), Mumbai Office, Fort, Mumbai on April 22, 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 (RBI) Core Banking Solution (E-Kuber) system on April 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.

The result of the auctions will be announced on April 22, 2016 and payment by successful bidders will be April 25, 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 (RBI) vide circular No. RBI/2006-07/178 dated November 16, 2006 as amended from time to time.

Government securities auction offers re-issues via multiple-price method with non-competitive facility and electronic bidding eligible for when-issued trading The Government announced re-issues of four Government Stocks via price-based auctions conducted by the RBI using the multiple price method, with specified notified amounts and an allocation of up to 5% to eligible bidders under the Non-Competitive Bidding Facility. Competitive and non-competitive bids must be submitted electronically on the RBI E-Kuber system within prescribed time windows; auction results and the payment schedule follow the auction. The re-issued Stocks are eligible for When Issued trading under existing RBI guidelines.