The Government of India has announced the Sale (Re-issue) of (i) ‘6.18 per cent  Government Stock, 2024’ for a notified amount of ₹ 12,000 crore (nominal) through price based auction, (ii) ‘7.57 per cent  Government Stock, 2033’ for a notified amount of  ₹ 11,000 crore (nominal) through price based auction, and (iii) ‘7.16 per cent Government Stock, 2050’ for a notified amount of ₹ 7,000 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 by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on May 15, 2020 (Friday) using multiple price method.

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 May 15, 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. and
11.30 a.m.

The result of the auctions will be announced on May 15, 2020 (Friday) and payment by successful bidders will be on May 18, 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 re-issue auction: price-based bidding via RBI with non-competitive allocation and when-issued trading eligibility. Sale (re-issue) auctions announced for three Government securities with notified nominal amounts and an issuer option to retain additional subscription up to a prescribed cap. Auctions will be conducted by the Reserve Bank of India using the multiple price method and price-based bidding. Up to five percent of each notified amount is reserved for eligible participants under the Non-Competitive Bidding Facility. Competitive and non-competitive bids must be submitted electronically via the Reserve Bank's E-Kuber system within prescribed time windows on the auction date; results and payment are scheduled as announced. The re-issued stocks are eligible for When Issued trading under the Reserve Bank's guidelines.