Auction for Sale (Re-Issue) of ‘5.09% GS 2022’, Auction for Sale

(Re-Issue) of ‘5.77% GS 2030’, Auction for Sale (Re-issue) of ‘GoI Floating Rate Bond 2033’, and Auction for Sale (Re-issue) of ‘ 6.80% GS 2060’

The Government of India (GoI) 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) ‘5.77 per cent GS, 2030’ for a notified amount of ₹ 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) ‘6.80% 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 against each of the above securities. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on September 25, 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 25, 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 25, 2020 (Friday) and payment by successful bidders will be on September 28, 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 announces re-issue auctions with competitive and non-competitive bidding, scheduled settlement dates. Re-issue auctions for four Government securities will be conducted by the Reserve Bank of India via price-based, multiple price auction with notified nominal amounts and optional additional retention by the Government. Up to five percent of each notified amount is reserved for the Non-Competitive Bidding facility for eligible individuals and institutions. Competitive and non-competitive electronic bids must be submitted on the RBI E-Kuber system within prescribed time windows on the auction day. Results and payment will follow on specified dates, and the stocks will be eligible for When Issued trading under RBI guidelines.