The Government of India (GoI) has announced the Sale (Issue/Re-issue) of (i) ‘3.96%  Government Stock, 2022’ for a notified amount of ₹ 2,000 crore (nominal) through price based auction, (ii) ‘5.15% Government Stock, 2025’ for a notified amount of ₹ 11,000 crore (nominal) through price based auction, (iii) ‘New Government Stock, 2030’ for a notified amount of ₹ 8,000 crore (nominal) through yield based auction, and (iv) ‘6.80% Government Stock, 2060’ for a notified amount of ₹ 7,000 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 November 27, 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 November 27, 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 November 27, 2020 (Friday) and payment by successful bidders will be on December 01, 2020 (Tuesday).

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: multiple central government stocks to be issued/re issued via price and yield based auctions with non competitive facility. Announcement of auctions for multiple central government securities including re issues and a new issue, specifying auction methods (price based and yield based), the Government's option to retain additional subscriptions, and that the Reserve Bank of India will conduct the auctions using the multiple price method. Bidders must submit electronic bids via the E Kuber system within prescribed time windows for non competitive and competitive bids; a portion of each notified amount is reserved under the Non Competitive Bidding Facility. Successful bidders must pay on the stipulated settlement date and the stocks are eligible for When Issued trading per RBI guidelines.