The Government of India has announced the Sale (Re-issue) of (i) ‘7.00 per cent  Government Stock, 2021’  for a notified amount of  Rs. 2,000 crore (nominal) through price based auction, (ii) ‘8.24 per cent Government Stock, 2027’ for a notified amount of  Rs. 2,000 crore (nominal) through price based auction, (iii) ‘7.95 per cent Government Stock, 2032’ for a notified amount of ₹ 3,000 crore (nominal) through price based auction, (iv) ‘7.40 per cent Government Stock, 2035’ for a notified amount of ₹ 2,000 crore (nominal) through price based auction, and (v) ‘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, Government of India 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 (RBI), Mumbai Office, Fort, Mumbai on March 1, 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 March 1, 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 March 1, 2019 (Friday) and payment by successful bidders will be on March 5, 2019 (Tuesday).

 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 by price-based multiple-price method; electronic competitive and non-competitive bids with reserved allotment. The Government announced re-issue auctions of specified Government Stocks using the multiple price method with a capped total notified amount and an option to retain additional subscriptions. Auctions will be conducted electronically on the central bank's core banking bidding system, accepting competitive and non-competitive bids within prescribed time windows. Up to five percent of notified amounts is reserved under the Non-Competitive Bidding Facility for eligible individuals and institutions. Results will be announced on the auction date and successful bidders must remit payment on the designated settlement date. Stocks are eligible for When Issued trading under prevailing central bank guidelines.