The Government of India has announced the Sale (Re-issue) of (i) ‘7.32 per cent Government Stock, 2024’ for a notified amount of ₹ 3,000 crore (nominal) through price based auction,(ii)‘‘7.26 per cent Government Stock, 2029’ 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, the 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 February8, 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 February 8, 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 p.m.

The result of the auctions will be announced on February 8, 2019 (Friday)and payment by successful bidders will be on February 11, 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.

Auction of government securities: re-issue via multiple-price method with competitive and non-competitive bidding and allotment. Re-issue auctions of specified government stocks will be carried out by electronic auction using the multiple price method, with both competitive and non-competitive bids allowed, up to five percent of notified amounts reserved for eligible individuals and institutions under the non-competitive bidding scheme; the government may retain additional subscriptions up to the overall notified cap, and the stocks are eligible for when issued trading under existing guidelines.