The 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 Rs 18,000 crore (nominal) through price based auction, (iii) ‘GoI Floating Rate Bonds, 2033’ 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 by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on July 03, 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 July 03, 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 July 03, 2020 (Friday) and payment by successful bidders will be on July 06, 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-issue bonds offered with electronic bidding and non-competitive allocation for eligible bidders. Re-issue auctions are announced for four specified Government securities with notified nominal amounts and an issuer option to retain additional subscriptions. Auctions will use the multiple price method and be conducted by the Reserve Bank on a set date. Up to 5% of each notified amount is reserved for eligible bidders under the Non-Competitive Bidding Facility. Competitive and non-competitive electronic bids must be submitted via E-Kuber within designated time windows; results and payment/settlement dates are scheduled. The stocks will be eligible for When Issued trading per RBI guidelines.