Government of India has announced the Sale (re-issue) of (i) “Government of India Floating Rate Bonds 2024” for a notified amount of  ₹ 3000 crore (nominal) through price based auction, (ii) “6.79 per cent Government Stock, 2027” for a notified amount of ₹ 8,000 crore (nominal) through price based auction, (iii) “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 August 24, 2017 (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 August 24, 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 August 24, 2017 (Thursday) and payment by successful bidders will be on August 28, 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.

Auction of government securities: re-issue offered via price-based multiple-price auction with competitive and non-competitive bids. Announcement of re-issuance of central government securities through price-based, multiple-price auctions conducted by the Reserve Bank of India. Four stocks are offered for re-issue with specified notified amounts; both competitive and non-competitive bids are permitted under the Scheme for Non-Competitive Bidding Facility, with up to five percent of each notified amount reserved for eligible individuals and institutions. Bids must be submitted electronically on E-Kuber within prescribed time windows; auction results and payment dates are announced and the stocks are eligible for When Issued trading under RBI guidelines.