The Government of India has announced the Sale (issue/re-issue) of (i) ‘New Government Stock, 2021’  for a notified amount of ₹ 3,000 crore (nominal) through yield 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, the Government 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, Mumbai Office, Fort, Mumbai on July 12, 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 July 12, 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 July 12, 2019 (Friday) and payment by successful bidders will be on July 15, 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: multiple-price issuance with non-competitive allotment and electronic bidding via central banking system, scheduled settlement. Announcement of multiple Central Government stock sales by yield based and price based auctions using the multiple price method, with a combined notified amount and government option to retain additional subscriptions. Auctions will be conducted by the Reserve Bank of India, with both competitive and non competitive bids submitted electronically on the RBI Core Banking Solution (E Kuber) within prescribed time windows; up to a specified portion of each notified amount is reserved for non competitive allotment, auction results will be announced on the auction date and payment/settlement will occur on the subsequent business day. Stocks are eligible for When Issued trading under RBI guidelines.