The Government of India has announced the Sale (Re-issue) of (i) ‘5.09 per cent  Government Stock, 2022’ for a notified amount of Rs 3,000 crore (nominal) through price based auction, (ii) ‘6.45 per cent  Government Stock, 2029’ for a notified amount of Rs 9,000 crore (nominal) through price based auction, (iii) ‘GoI Floating Rate Bonds,  2031’ for a notified amount of Rs 4,000 crore (nominal) through price based auction, and (iv) ‘7.19 per cent  Government Stock, 2060’  for a notified amount of  Rs 5,000 crore (nominal) through price based auction. GoI will have the option to retain additional subscription up to Rs 2,000 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 April 24, 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 April 24, 2020. The non-competitive bids should be submitted between 10.30 a.m. and 11.00 a.m. and the competitive bids should be submitted between 10.30 a.m. and11.30 a.m.

The result of the auctions will be announced on April 24, 2020 (Friday) and payment by successful bidders will be on April 27, 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 using multiple-price method; reissues available with non-competitive bidding and electronic submissions on scheduled settlement dates. Re-issue auctions of specified Government stocks will be conducted by the Reserve Bank of India using the multiple-price auction method, with an option to retain additional subscriptions up to a notified limit. Up to five percent of each notified amount is reserved for eligible individuals and institutions under the Non-Competitive Bidding Facility. Competitive and non-competitive bids must be submitted electronically via the E-Kuber system within prescribed time windows; results will be announced on the auction day and settlement will occur on the scheduled payment date. Securities are eligible for When Issued trading under RBI guidelines.