The Government of India has announced the Sale (re-issue) of (i) ‘7.00 per cent  Government Stock, 2021’ for a notified amount of  ₹ 3,000 crore (nominal) through price based auction, (ii) ‘7.27 per cent  Government Stock, 2026’  for a notified amount of  ₹ 3,000 crore (nominal) through price based auction, (iii) ‘7.57 per cent  Government Stock, 2033’ for a notified amount of ₹ 5,000 crore (nominal) through price based auction, (iv) ‘7.62 per cent  Government Stock, 2039’  for a notified amount of  ₹ 2,000 crore(nominal) through price based auction, and (v) ‘7.63 per cent  Government Stock, 2059’  for a notified amount of  ₹ 4,000 crore (nominal) through price based auction. Subject to the limit of Rs. 17,000 crore, being total notified amount, Govt. of India 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 (RBI), Mumbai Office, Fort, Mumbai on June 14, 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 June 14, 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 June 14, 2019 (Friday) and payment by successful bidders will be on June 17, 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 using multiple price method allows competitive and reserved non-competitive bids with when issued trading eligibility. Price-based re-issue auctions for multiple Central Government stocks will use the multiple price method, allow competitive and non-competitive electronic bids (with up to five percent reserved for eligible individuals and institutions under a Non-Competitive Bidding Facility), include an option to retain additional subscription within overall limits, specify intra-day bid submission windows and payment/allotment dates, and render the stocks eligible for when issued trading under existing guidelines.