Auction for Sale (Re-Issue) of ‘6.18% GS 2024’,

Auction for Sale (Re-issue) of ‘7.57% GS 2033’,

Auction for Sale (Re-Issue) of ‘7.69% GS 2043’, and

Auction for Sale (Re Issue) of ‘7.72% GS 2049’.

Government of India has announced the Sale (Re-issue) of (i) ‘6.18 per cent  Government Stock, 2024’ for a notified amount of ₹ 4,000 crore (nominal) through price based auction, (ii) ‘7.57 per cent  Government Stock, 2033’ 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 Rs 16,000 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 November 15, 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 November 15, 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 November 15, 2019 (Friday) and payment by successful bidders will be on November 18, 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 re-issue auction: price-based multiple-price sale with reserved non-competitive bidding and electronic submission rules. Re-issue auctions of specified Government securities will be conducted by the Reserve Bank of India using a price-based, multiple-price auction, with notified amounts and an overall option to retain additional subscriptions within a prescribed ceiling. Up to a capped share of each security is reserved for eligible individuals and institutions under the Non-Competitive Bidding Facility. Bids must be submitted electronically on the E-Kuber system within designated time windows for non-competitive and competitive bids, with auction results and payment scheduled on announced dates. The securities will be eligible for When Issued trading under RBI guidelines.