Government of India has announced the Sale (Re-issue) of (i) ‘5.09 per cent  Government Stock, 2022’ for a notified amount of ₹ 3,000 crore (nominal) through price based auction,  
(ii) ‘5.79 per cent  Government Stock, 2030’ for a notified amount of ₹ 18,000 crore (nominal) through price based auction, (iii) ‘GoI Floating Rate Bonds, 2031’ for a notified amount of ₹ 4,000 crore (nominal) through price based auction, and (iv) ‘7.19 per cent  Government Stock, 2060’  for a notified amount of  ₹ 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 by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on May 22, 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 22, 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 22, 2020 (Friday) and payment by successful bidders will be on May 26, 2020 (Tuesday).

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 open for competitive and non competitive bids, with scheduled results and settlement. Government announced re issues of several dated stocks and a floating rate bond to be auctioned by the Reserve Bank of India using the multiple price method, with notified amounts, an option to retain additional subscriptions, electronic bid submission via E Kuber, separate windows for non competitive and competitive bids, up to five percent allocation for eligible individuals and institutions under the Scheme for Non Competitive Bidding Facility, scheduled result and settlement dates, and eligibility for When Issued trading under RBI guidelines.