Government of India has announced the Sale (Re-issue) of (i) ‘7.32 per cent Government Stock, 2024’ for a notified amount of ₹ 5,000 crore (nominal) through price based auction, (ii) ‘7.26 per cent Government Stock, 2029’ for a notified amount of  ₹ 6,000 crore (nominal) through price based auction, (iii) ‘7.69 per cent Government Stock, 2043’ for a notified amount of ₹ 2,000 crore (nominal) through price based auction, and (iv) ‘7.72 per cent Government Stock, 2049’ for a notified amount of  ₹ 4,000 crore (nominal) through price based auction. Subject to the limit of ₹ 17,000 crore, being total notified amount, GoI will have the option to retain additional subscription up to Rs. 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 May 10, 2019 (Friday).

2.   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.

3. 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 May 10, 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.    

4. The result of the auctions will be announced on May 10, 2019 (Friday) and payment by successful bidders will be on May 13, 2019 (Monday).

5. 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: price based re issue with reserved non competitive participation and electronic bidding procedures. A price based auction will re issue four government stocks within an aggregate notified limit, with government option to retain additional subscriptions; auctions will employ the multiple price method and be conducted by the Reserve Bank of India in Mumbai. A reserved portion of each notified amount is available under the Non Competitive Bidding Facility for eligible individuals and institutions. Competitive and non competitive bids must be submitted electronically via the RBI Core Banking Solution (E Kuber) within prescribed time windows; auction results, payment schedule, and eligibility for 'When Issued' trading follow RBI circular guidance.