Press Information Bureau

Government of India

Ministry of Finance

13-August-2012 19:23 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 Rs. 4,000 crore (nominal) through price based auction, (ii) “8.33 percent Government Stock 2026” for a notified amount of Rs. 7,000 crore (nominal) through price based auction, (iii) “8.28 percent Government Stock 2032” 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 using uniform price method. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai

on August 17, 2012 (Friday).

            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 August 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 12.00 noon.  

            The result of the auctions will be announced on August 17, 2012 and payment by successful bidders will be on August 21, 2012 (Tuesday) (August 20, 2012 being a holiday).   

            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

New Delhi: Shravana 22, 1934; August 13, 2012

DSM/RS/GN

Government securities auction using uniform price method, with non competitive allocation reserved and electronic NDS bidding required. Announcement of re issue auctions of four Government stocks to be conducted by the Reserve Bank of India, Mumbai Office, using the uniform price method on August 17, 2012. Up to 5% of each notified amount is reserved under the Scheme for Non Competitive Bidding Facility. Competitive and non competitive bids must be submitted electronically on the Negotiated Dealing System (NDS) within prescribed time windows; results announced on the auction date and payment by successful bidders on August 21, 2012. Stocks are eligible for 'When Issued' trading per RBI guidelines.