Government of India have announced the Sale (re-issue) of (i) “7.35 per cent Government Stock 2024” for a notified amount of Rs.  3,000 crore (nominal) through price based auction, (ii) “7.61 per cent Government Stock 2030” for a notified amount of Rs.  8,000 crore (nominal) through price based auction, (iii) “7.73 per cent Government Stock  2034” for a notified amount of Rs.  2,000 crore (nominal) through price based auction,  and (iv) “8.13 per cent Government Stock 2045” for a notified amount of Rs.  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
August 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 August 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 August 05, 2016 and payment by successful bidders will be August 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.

Government securities auction: multiple-price re-issue with non-competitive allotment and electronic bidding on E-Kuber. Price-based re-issue auctions will be held for four central government dated stocks using the multiple price method at the central bank's Mumbai office on the announced auction date; up to 5% of each notified amount is reserved for eligible individuals and institutions under the Scheme for Non-Competitive Bidding, with non-competitive and competitive electronic bids required on the central bank's E-Kuber system within specified time windows, same-day auction results, subsequent payment date, and eligibility for when-issued trading under existing central bank guidelines.