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 ₹ 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 January 17, 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 17, 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 17, 2020 (Friday) and payment by successful bidders will be on January 20, 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-issues via multiple-price method with non-competitive bidding facility enabled for eligible investors. Re-issue auctions for multiple Government of India securities will be conducted by the Reserve Bank of India using the multiple price method; the Government may retain additional subscription within an overall notified limit. Up to five percent of each notified amount is reserved for eligible individuals and institutions under the non-competitive bidding facility. Bids are to be submitted electronically on the RBI Core Banking Solution (E-Kuber) within prescribed time windows for non-competitive and competitive bids, with auction results and payment scheduled as announced. The stocks are eligible for when-issued trading under RBI guidelines.