The 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 ₹ 17,000crore, being total notified amount, Government of India will have the option to retain additional subscription upto ₹ 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 June21, 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 June21, 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 June21, 2019 (Friday)and payment by successful bidders will be on June24, 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 July24, 2018 as amended from time to time.

Non-competitive bidding facility enables eligible individuals and institutions allotment in government stock auction via multiple-price method. Sale by re-issue of multiple Central Government securities will be conducted through price-based auctions using the multiple price method, with a notified aggregate limit and optional additional retention by the government. Up to 5% of each notified amount is reserved for eligible individuals and institutions under the Non-Competitive Bidding Facility. Competitive and non-competitive bids must be submitted electronically on the central banking system within prescribed time windows, results are announced the same day, payment follows on a scheduled settlement date, and the stocks are eligible for When Issued trading under existing central bank guidelines.