Press Information Bureau

Government of India

Ministry of Finance

09-January-2017 18:17 IST

Government of India have announced the Sale (re-issue) of (i) “6.84 per cent Government Stock 2022” for a notified amount of ₹ 2000 crore (nominal) through price based auction, (ii) “6.97 per cent Government Stock 2026” for a notified amount of ₹ 5,000 crore (nominal) through price based auction, (ii) “7.73 per cent Government Stock 2034” for a notified amount of ₹ 2,000 crore (nominal) through price based auction, (iv) “7.06 per cent Government Stock, 2046” 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 January 13, 2017 (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 January 13, 2017. 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 January 13, 2017 and payment by successful bidders will be on January 16, 2017 (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.

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DSM/MS/KA

Government securities auction re-issue: price-based multiple-price sale with non-competitive allocation and specified electronic bidding times. Re-issue auctions of multiple Government of India securities will be conducted by the Reserve Bank of India using the multiple price method on the notified auction date; up to five percent of each notified amount is reserved for eligible individuals and institutions under the Non-Competitive Bidding facility. Both competitive and non-competitive bids must be submitted electronically on the RBI Core Banking Solution (E-Kuber) within prescribed time windows. Auction results, payment settlement dates and eligibility for When Issued trading will follow existing RBI guidelines.