Press Information Bureau

Government of India

Ministry of Finance

25-July-2011 19:16 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 29, 2011 (Friday).

2. 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.

3. Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Negotiated Dealing System (NDS) on July 29, 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.

4. The result of the auctions will be announced on July 29, 2011 and payment by successful bidders will be on August 01, 2011 (Monday).

5. 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: July 25, 2011

DSM/SS/GN

Government securities auction: uniform-price re-issues open with competitive and non-competitive bidding scheduled electronically. The Government announced re-issues of three dated securities by auction using the uniform price method, with notified nominal amounts and up to five percent reserved under the Non-Competitive Bidding Facility. Auctions will be conducted by the Reserve Bank of India in Mumbai; competitive and non-competitive bids must be submitted electronically on the Negotiated Dealing System within prescribed time windows. Results will be announced on the auction date, payment by successful bidders follows on the stated settlement date, and the stocks are eligible for When Issued trading under RBI guidelines.