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) “7.72 per cent Government Stock, 2055” for a notified amount of  ₹ 2,000 crore (nominal) through price based auction. Subject to the limit of Rs. 15,000 crore, being total notified amount, GoI will have the option to retain additional subscription up to Rs. 1,000 crore against any of the above security. 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 November 17, 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   
November 17, 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 November 17, 2017 (Friday) and payment by successful bidders will be on November 20, 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 uses multiple price method with electronic competitive and non competitive bidding and reserved retail allotment. The government announced re-issue auctions of specified central government securities to be conducted by the RBI using the multiple price method, allowing optional additional retention within an overall notified limit. Both competitive and non competitive bids must be submitted electronically via the RBI E Kuber system on the auction date within prescribed time windows; up to five percent of each notified amount is reserved for eligible individuals and institutions under the non competitive bidding scheme. Auction results and payment/settlement dates are specified, and the stocks are eligible for 'When Issued' trading under RBI guidelines.