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) “7.50 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 June 30, 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 June 30, 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 June 30, 2016 and payment by successful bidders will be July 1, 2016 (Friday).  

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: re-issue offered with multiple-price bidding, reserved non-competitive allocation via electronic bidding window and when-issued trading eligibility. Re-issue auctions for four specified Government stocks will be conducted by the Reserve Bank of India using the multiple price method; up to five percent of each notified amount is reserved for eligible individuals and institutions under the Scheme for Non-Competitive Bidding. Both competitive and non-competitive bids must be submitted electronically on the Reserve Bank's E-Kuber system within prescribed windows, with auction results announced and payment scheduled on specified dates; the stocks are eligible for when-issued trading under existing RBI guidelines.