Auction for Sale (Re-Issue) of ‘6.17% GS 2021’, Auction for Sale (Re-Issue) of ‘7.27% GS 2026’, Auction for Sale (Re-Issue) of ‘6.45% GS 2029’, Auction for Sale (Re-Issue) of ‘7.62% GS 2039’, and Auction for Sale (Re-Issue) of ‘7.63% GS 2059’

Government of India has announced the Sale (re-issue) of (i) ‘6.17 per cent  Government Stock, 2021’  for a notified amount of ₹ 2,000 crore (nominal) through price based auction, (ii) ‘7.27 per cent  Government Stock, 2026’  for a notified amount of  ₹ 2,000 crore (nominal) through price based auction,(iii) ‘6.45 per cent  Government Stock, 2029’  for a notified amount of ₹ 7,000 crore (nominal) through price based auction,,(iv)‘7.62 per cent  Government Stock, 2039’  for a notified amount of  ₹ 1,000 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 ₹ 16,000 crore, being total notified amount, GoI will have the option to retain additional subscription up to₹ 1,000 crore each 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, Mumbai Office, Fort, Mumbai on November 22, 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 22, 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 22, 2019 (Friday)and payment by successful bidders will be on November 25, 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.

RM/KMN

Government securities auction: re-issue conducted by RBI using multiple price method with non-competitive allotment and electronic bidding requirements. Re-issue auction of specified Government of India securities is announced with individual notified amounts and an overall cap; the Reserve Bank of India will conduct the auction using the multiple price method. Up to five percent of each notified amount is reserved for eligible participants under the Scheme for Non-Competitive Bidding Facility, with an option to retain additional subscriptions within stated limits. Bids must be submitted electronically on the E-Kuber system within prescribed time windows for non-competitive and competitive bids, results and payment dates are set, and the stocks are eligible for When Issued trading under RBI guidelines.