Government of India have announced the sale (re-issue) of "11.30 percent Government Stock, 2010" under Market Stabilization Scheme for a notified amount of Rs. 3,000 crore (nominal). The Government Stock will be sold through price based auction using multiple price method. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on January 31, 2008(Thursday).

Up to 5 per cent of the amount notified for the sale of stock is reserved for allotment to eligible individuals and Institutions on non- competitive basis as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.

Bids in the prescribed form obtainable from the Regional Director, Reserve Bank of India, Mumbai Office (Public Debt Office), Fort, Mumbai-400 001 and RBI website www.rbi.org.in should be submitted to that Office on January 31, 2008. The NDS members should submit competitive as well as non-competitive bids in electronic format using Primary Market Operation (PMO) module of NDS. All bids should be submitted by 12.30 P.M.

The result of the auctions will be announced on January 31, 2008 and payment by successful bidders will be during banking hours on February 1, 2008 (Friday).

Department of Economic Affairs, Ministry of Finance New Delhi; Magha 8; January 28, 2008

Market Stabilization Scheme auction of government stock proceeds by multiple price bidding with reserved non competitive allotment. Sale (re-issue) of Government Stock under the Market Stabilization Scheme will be conducted via a price based multiple price auction by the central bank on a specified date; results are to be announced the same day with payment by successful bidders on the following banking day. Up to five percent of the notified amount is reserved for eligible individuals and institutions on a non competitive basis. Bids are to be lodged in prescribed form at the designated Public Debt Office or submitted electronically by NDS members through the Primary Market Operation module by the midday cutoff.