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 ₹ 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 August 16, 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 August 16, 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 August 16, 2019 (Friday) and payment by successful bidders will be on August 19, 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 re-issue: price-based sale with allotment rules and non-competitive bidding facility via electronic submission under E-Kuber. Re-issue auctions of four Government of India securities will be conducted as price based auctions using the multiple price method on the RBI E Kuber platform, with separate submission windows for non competitive and competitive bids, up to five percent allotment reserved under the non competitive bidding scheme, a combined notified ceiling with an option to retain additional subscriptions, and eligibility of the stocks for when issued trading per RBI guidelines.