The Government of India has announced the Sale (Issue/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)‘New Government Stock of 10 year tenor’ for a notified amount of ₹ 4,000 crore (nominal) through yield 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) ‘8.17 per cent Government Stock, 2044’ 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, Government of India will have the option to retain additional subscription up to ₹ 1,000 croreeach against anyone 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 (RBI), Mumbai Office, Fort, Mumbai on January11, 2019(Friday).

Up to 5% of the notified amount of the sale of the stockswill 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 January 11, 2019. The non-competitive bids should be submitted between 11.30 a.m. and 12.00 noonand the competitive bids should be submitted between 11.30 a.m.and 12.30 noon.

The result of the auctions will be announced on January 11, 2019 (Friday)and payment by successful bidders will be on January 14, 2019(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 (RBI) vide circular No. RBI/2018-19/25 dated July 24, 2018 as amended from time to time.

Government securities auction: multiple-price sale with competitive and non-competitive bids and when-issued trading eligibility. Sale and re-issue of central government securities will be conducted by the Reserve Bank using a multiple price method auction, offering several securities through price- and yield-based mechanisms within an overall notified limit and with a government option to accept additional subscriptions. Up to five percent of each notified amount is reserved for eligible individuals and institutions under the Non-Competitive Bidding Facility. Competitive and non-competitive bids must be submitted electronically on the central bank's E-Kuber system within prescribed windows, and successful bidders will settle on the announced settlement date; the stocks are eligible for When Issued trading under central bank guidelines.