Government of India has announced the Sale (Re-issue) of (i) ‘8.24 per cent Government Stock, 2027’ for a notified amount of  ₹ 3,000 crore (nominal) through price based auction, (ii) ‘7.17 per cent Government Stock, 2028’ for a notified amount of ₹ 4,000 crore (nominal) through price based auction, (iii) ‘7.50 per cent Government Stock, 2034’ for a notified amount of ₹ 2,000 crore (nominal) through price based auction, and (iv) ‘7.72 per cent Government Stock, 2055’ for a notified amount of ₹ 3,000 crore (nominal) through price based auction. Subject to the limit of Rs.12,000 crore, being total notified amount, GoI will have the option to retain additional subscription up to Rs.1,000 crore each against any one or more of the above securities. 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 December 7, 2018 (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 December 7, 2018. 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 December 7, 2018 (Friday) and payment by successful bidders will be on December 10, 2018 (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 via multiple-price method with non-competitive bids and e-Kuber electronic submission. Re-issue auctions for four Government Stocks will be conducted by multiple price auction with a total notified amount cap and an option to retain additional subscription; up to 5% of each notified amount is reserved for eligible individuals and institutions under the Non-Competitive Bidding Facility. Bids must be submitted electronically via the central bank's Core Banking Solution (E-Kuber) within prescribed windows for non-competitive and competitive bids. Auction date, result announcement and payment/settlement dates are specified, and the stocks are eligible for 'When Issued' trading under central bank guidelines.