Press Information Bureau

Government of India

Ministry of Finance

15-May-2017 16:30 IST

The Government of India has announced the Sale (re-issue) of the following Government Stock:

1) “6.84 per cent Government Stock, 2022” for a notified amount of ₹ 3000 crore (nominal) through price based auction,

2) “6.79 per cent Government Stock 2029” for a notified amount of ₹ 7,000 crore (nominal) through price based auction,

3) “6.57 per cent Government Stock 2033” for a notified amount of ₹ 2,000 crore (nominal) through price based auction,

4) “6.62 per cent Government Stock, 2051” for a notified amount of ₹ 3,000 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 May 19, 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 May 19, 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 May 19, 2017 (Friday) and payment by successful bidders will be on May 22, 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/VKS/KA

Government securities auction: re-issue using multiple-price method with non-competitive facility and e-bidding schedule, payment date specified. Re-issue auctions for four Government Stocks will be conducted by the Reserve Bank of India using the multiple price method with bids submitted electronically on E-Kuber. Up to 5% of each notified amount is reserved under the Scheme for Non-Competitive Bidding Facility. Non-competitive bids must be submitted within a prescribed shorter window and competitive bids within the full bidding window on the auction date. Auction results are announced on the auction date and payment by successful bidders is due on the specified settlement date. The stocks are eligible for When Issued trading per RBI guidelines.