Press Information Bureau

Government of India

Ministry of Finance

18-June-2012 18:42 IST

Auction for Sale of Government Stocks

Press Note

Government of India have announced the Sale (Re-issue) of (i) “8.19 percent Government Stock 2020” for a notified amount of `  4,000 crore (nominal) through price based auction, (ii) “9.15 percent Government Stock 2024”  for a notified amount of

Rs. 7,000 crore (nominal) through price based auction, (iii) “8.28 percent Government Stock 2027” for a notified amount of Rs. 2,000 crore (nominal) through price based auction and (iv) “8.83 percent Government Stock 2041” for a notified amount of

Rs. 2,000 crore (nominal) through price based auction. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on June 22, 2012 (Friday) using uniform 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 Negotiated Dealing System (NDS) on June 22, 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 12.00 p.m.   

The result of the auctions will be announced on June 22, 2012 and payment by successful bidders will be on June 25, 2012 (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 /2006-07/178 dated November 16, 2006 as amended from time to time.

Department of Economic Affairs, Ministry of Finance,Government of India

New Delhi: Jyaistha 28, 1934; June 18, 2012

DSM/Hb

Government securities auction: re-issue conducted by uniform price method with non-competitive bidding and electronic NDS submission. Announcement of re-issue auctions of multiple Government stocks to be conducted by the Reserve Bank of India using the uniform price method, with electronic bid submission on the Negotiated Dealing System, specified windows for non-competitive and competitive bids, reservation of up to five percent for eligible individuals and institutions under the Scheme for Non-Competitive Bidding Facility, specified auction and payment dates, and eligibility of the stocks for When Issued trading under RBI guidelines.