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 ₹ 13,000 crore (nominal) through price based auction, (iii) ‘GoI Floating Rate Bonds, 2033’ for a notified amount of ₹ 3,000 crore (nominal) through price based auction, and (iv) ‘6.80% Government Stock, 2060’ for a notified amount of ₹ 9,000 crore (nominal) through price based auction. GoI will have the option to retain additional subscription up to ₹ 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 October 9, 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 October 9, 2020. The non-competitive bids should be submitted between 12.00 Noon and 12.30 p.m. and the competitive bids should be submitted between 12.00 Noon and 1.00 p.m.   

The result of the auctions will be announced on October 9, 2020 (Friday) and payment by successful bidders will be on October 12, 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 re-issue auction: price-based sale via RBI e-Kuber with competitive and non-competitive bidding. The Government announced re-issue auctions of several Central Government securities to be conducted by the Reserve Bank of India using the multiple price method through the E-Kuber system. The GoI may retain additional subscription above notified amounts and will reserve up to five percent of each notified amount for eligible individuals and institutions under the Scheme for Non-Competitive Bidding. Non-competitive and competitive bids must be submitted electronically in specified windows on the auction day, and the stocks will be eligible for When Issued trading under RBI guidelines.