The Government of India has announced the Sale (re-issue) of (i) “Government of India Floating Rate Bonds 2024” for a notified amount of  Rs.3000 crore (nominal) through price based auction, (ii) “6.79 per cent Government Stock, 2027” 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, (iv) “7.72 per cent Government Stock, 2055” 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 September29, 2017 (Friday).

Up to 5% of the notified amount of the sale of the stockswill 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
September 29, 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 September29, 2017 (Friday)and payment by successful bidders will be on October 3, 2017(Tuesday).   

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 procedure: multiple-price re-issues offered with competitive and non-competitive bidding via electronic platform. The Government announced re-issues of four central government securities through price-based auctions using the multiple price method, conducted by the Reserve Bank of India. Auctions permit competitive and non-competitive bids, with up to five percent of each issue reserved for eligible individuals and institutions under the non-competitive bidding scheme. All bids must be submitted electronically on the RBI's Core Banking Solution (E-Kuber), with prescribed submission windows, announced result and payment dates, and stocks eligible for When Issued trading under RBI guidelines.