Press Information Bureau

Government of India

Ministry of Finance

13-February-2012 19:49 IST

PRESS COMMUNIQUE

Government of India have announced the Sale (Re-issue) of (i) “8.24 percent Government Stock 2018” for a notified amount of Rs.3,000 crore (nominal), (ii) “8.79 percent Government Stock 2021”  for a notified amount of Rs.6,000 crore (nominal), and (iii) “8.83 percent Government Stock 2041” 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 17, 2012 (Friday).

2. Up to 5% of the notified amount of the sale of the stockswill 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 17, 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 17, 2012 and payment by successful bidders will be on February 21, 2012 (Tuesday).   

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 13, 2012

DSM/SS/MVe/Hb

Government securities auction: uniform-price re-issue with limited non-competitive allotment and specified electronic bidding and settlement schedule. Announcement of a government securities auction for re-issue of specified stocks by uniform-price method, conducted by the Reserve Bank using the Negotiated Dealing System. Up to a capped percentage of notified amounts will be allotted via the Scheme for Non-Competitive Bidding to eligible individuals and institutions. The communique sets distinct electronic bid submission windows for non-competitive and competitive bids, and specifies the announcement of results and the subsequent payment/settlement date. The stocks are eligible for when-issued trading under applicable RBI guidelines.