Government of India has announced the Sale (Issue/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) ‘New GoI Floating Rate Bonds, 2033’ for a notified amount of ₹ 4,000 crore (nominal) through spread 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 by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on June 19, 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 June 19, 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 June 19, 2020 (Friday) and payment by successful bidders will be on June 22, 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.

Auction of government securities announced; electronic competitive and non-competitive bidding with reserved non-competitive allotment and when-issued trading. Auction sale and re-issue of multiple central government securities is announced to be conducted by the Reserve Bank of India using the multiple price method via the E-Kuber system; both competitive and non-competitive bids must be submitted electronically within specified intra-day windows, with up to five percent of each notified amount reserved for eligible participants under the Non-Competitive Bidding Facility, and the stocks eligible for When Issued trading under existing RBI guidelines.