Press Information Bureau

Government of India

Ministry of Finance

12-July-2011 10:25 IST

Auction for sale (Re-Issue) of ‘7.83 Per cent Government Stock, 2018,’ Auction for Sale (Re-Issue) of ‘7.80 Per cent Government Stock, 2021’ and auction for Sale (Re-Issue) of ‘8.30 Per cent Government Stock, 2040’

PRESS NOTE

                        Government of India have announced the sale (re-issue) of (i) “7.83 percent Government Stock 2018” for a notified amount of Rs.3,000 crore (nominal), (ii) “7.80 percent Government Stock  2021” for a notified amount of Rs.6,000 crore (nominal) and (iii) “8.30 percent Government Stock 2040” for a notified amount of Rs.3,000 crore (nominal) through price based auctions. The auctions will be conducted using uniform price method. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on July 15, 2011 (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 Negotiated Dealing System (NDS) on July 15, 2011. 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 12.30 p.m.

The result of the auctions will be announced on July 15, 2011 and payment by successful bidders will be on July 18, 2011 (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.

Department of Economic Affairs, Ministry of Finance

New Delhi: Asadha 21, 1933; July 12, 2011

DSM/SS/GN

Government securities auction: re-issue via uniform price auction with non-competitive allocation for retail bidders. Re-issue auctions for three dated Government of India securities will be conducted by the Reserve Bank of India using the uniform price method on the Negotiated Dealing System; up to five percent of each notified amount is reserved for eligible individuals and institutions under the non-competitive bidding facility, with specified electronic bid submission windows, same-day auction results and a designated payment/settlement date. The stocks are eligible for When Issued trading under RBI guidelines.