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’.

The Government of India has announced the Sale (re-issue) of (i) ‘6.17 per cent  Government Stock, 2021’  for a notified amount of Rs 2,000 crore (nominal) through price based auction, (ii) ‘7.27 per cent  Government Stock, 2026’  for a notified amount of  Rs 2,000 crore (nominal) through price based auction, (iii) ‘6.45 per cent  Government Stock, 2029’  for a notified amount of Rs 7,000 crore (nominal) through price based auction, (iv)‘7.62 per cent  Government Stock, 2039’  for a notified amount of  Rs 1,000 crore (nominal) through price based auction, and (v) ‘7.63 per cent  Government Stock, 2059’  for a notified amount of  Rs 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 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 January 03, 2020 (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 January 03, 2020. 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 January 03, 2020 (Friday) and payment by successful bidders will be on January 06, 2020 (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 via multiple-price method with non-competitive allotment and electronic bid submission required. The Government announced re-issues of several Government Stocks to be sold by price-based, multiple-price auction conducted by the Reserve Bank of India, with specified notified nominal amounts and a retained subscription option subject to the total notified limit. Up to a reserved percentage of each notified amount is allotted under the Non-Competitive Bidding Facility to eligible individuals and institutions. Both competitive and non-competitive bids must be submitted electronically on the RBI's E-Kuber system within prescribed time windows; results will be announced on the auction date and successful bidders must remit payment on the prescribed settlement date. The Stocks qualify for When Issued trading per RBI guidelines.