Government of India has announced the Sale (re-issue) of (i) “6.84 per cent Government Stock, 2022” for a notified amount of  ₹ 3000 crore (nominal) through price based auction, (ii) “6.79 per cent Government Stock  2029” for a notified amount of ₹ 7,000 crore (nominal) through price based auction,   (iii) “6.57 per cent Government Stock  2033” for a notified amount of ₹ 2,000 crore (nominal) through price based auction,   (iv) “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 June 2, 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 June 2, 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 June 2, 2017 (Friday) and payment by successful bidders will be on June 5, 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.

Government securities auction: re-issue of dated stocks via multiple-price auctions with competitive and non-competitive bidding. Re-issue auctions for multiple dated government stocks will be conducted by the Reserve Bank using the multiple price method; competitive and non-competitive bids must be submitted electronically on the Core Banking Solution (E-Kuber) within prescribed windows, with up to a specified portion allotted under the Scheme for Non-Competitive Bidding Facility, auction results announced on the auction date and payment on the designated settlement date, and the stocks eligible for When Issued trading under existing guidelines.