Government of India has announced the Sale (Re-issue) of (i) ‘7.37 per cent Government Stock, 2023’ 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) ‘8.24 per cent Government Stock, 2033’ for a notified amount of ₹ 2,000 crore (nominal) through price based auction, and (iv) ‘7.06 per cent Government Stock, 2046’ for a notified amount of ₹ 3,000 crore (nominal) through price based auction. Subject to the limit of ₹ 12,000 crore, being total notified amount, GoI will have the option to retain additional subscription up to ₹ 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 28, 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 28, 2018. The non-competitive bids should be submitted between 11.30 a.m. and 12.00 noon and the competitive bids should be submitted between 11.30 a.m. and
12.30 p.m.    

The result of the auctions will be announced on December 28, 2018 (Friday) and payment by successful bidders will be on December 31, 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.

Government stock auction re-issue: price-based multiple-price auctions open with competitive and non-competitive bidding and allocation rules. Price-based re-issue auctions of several government dated stocks will be conducted by the Reserve Bank of India using the multiple price method, with electronic bid submission on the E-Kuber system. Up to five percent of each notified amount is reserved for eligible individuals and institutions under the Non-Competitive Bidding Facility, with prescribed time windows for non-competitive and competitive bid submission, specified auction result and settlement dates, and eligibility for 'When Issued' trading under RBI guidelines.