Press Information Bureau

Government of India

Ministry of Finance

06-February-2012 19:14 IST

Auction for Sale of Government Stocks

Embargoed till 7.05PM

Press Communique

Government of India have announced the (i) Sale (Re-issue) of “8.19 percent Government Stock 2020” for a notified amount of Rs.3,000 crore (nominal) through price based auctions, (ii) Sale (Re-issue) of “9.15 percent Government Stock 2024”  for a notified amount of Rs.6,000 crore (nominal) through price based auctions, and (iii) Sale (Re-issue) of “8.97 percent Government Stock 2030” for a notified amount of Rs.3,000 crore (nominal) through price based auctions. The auctions will be conducted using uniform price method. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on February 10, 2012 (Friday).

2. 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.

3. Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Negotiated Dealing System (NDS) on February 10, 2012. The non- competitive bids should be submitted between 10.30 a.m. and 11.30 a.m. and the competitive bids should be submitted between 10.30 a.m. and 12.30 p.m.  

4. The result of the auctions will be announced on February 10, 2012 and payment by successful bidders will be on February 13, 2012 (Monday).  

5. 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 /2006-07/178 dated November 16, 2006 as amended from time to time.

Department of Economic Affairs, North Block,Ministry of Finance

New Delhi: February 6, 2012

DSM/SS

Government securities auction: uniform price sale with non competitive bidding facility and electronic submission and settlement timeline. Sale of three re issued Government stocks by auction using the uniform price method is announced for a specified date, with competitive and non competitive electronic bids to be submitted on the Negotiated Dealing System within prescribed time windows. Up to five percent of each notified amount is reserved for eligible bidders under the Non Competitive Bidding Facility. Auction results will be declared on the auction date and payment follows on the stated settlement date. The stocks are eligible for 'When Issued' trading under central bank guidelines.