The Government of India has announced the Sale (Re-issue) of (i) ‘5.22 per cent Government Stock, 2025’ for a notified amount of ₹ 12,000 crore (nominal) through price based auction, (ii) ‘6.19 per cent Government Stock, 2034’ 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 against each of the above securities. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on September 18, 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 September 18, 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 September 18 (Friday) and payment by successful bidders will be on September 21 (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 conducted by central bank via price-based multiple-price method; non-competitive allocation and trading rules. The Government announces re-issue auctions of three Government Stocks by price-based auction conducted by the Reserve Bank using the multiple-price method; the Government may accept additional subscriptions. Up to five percent of each notified amount is reserved for the Scheme for Non-Competitive Bidding. Competitive and non-competitive bids must be submitted electronically on the Reserve Bank's E-Kuber in prescribed time windows on the auction date, with results and payment settlement following. The stocks are eligible for When Issued trading per Reserve Bank guidelines.