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) ‘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, 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 February 22, 2019 (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 February 22, 2019. 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 February 22, 2019 (Friday) and payment by successful bidders will be on February 25, 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 vide circular No. RBI/2018-19/25 dated July 24, 2018 as amended from time to time.

Government securities auction using price based multiple price method, with non competitive retail allotment and when issued trading eligibility. Sale by re issue of four dated Government securities is announced with an aggregate notified limit and an option for additional retention; the offers will be conducted by the Reserve Bank of India on a price based auction using the multiple price method on February 22, 2019, with settlement on February 25, 2019. Up to five percent of the notified amounts is allotted under the Non Competitive Bidding Facility to eligible individuals and institutions; bids must be submitted electronically via E Kuber within prescribed time windows, and the stocks are eligible for When Issued trading under RBI guidelines.