Press Information Bureau

Government of India

Ministry of Finance

03-September-2012 18:23 IST

Auction for Sale of Government Stocks

Press Note

         Government of India have announced the sale (re-issue) of (i) “8.07 percent Government Stock 2017-JUL” for a notified amount of Rs. 4,000 crore (nominal) through price based auction,  (ii) “8.15 percent Government Stock 2022” for a notified amount of Rs. 7,000 crore (nominal) through price based auction, (iii) “8.97 percent Government Stock 2030” for a notified amount of Rs. 3,000 crore (nominal) through price based auction; and (iv) “8.33 percent Government Stock 2036” 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 September 07, 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 September 07, 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 September 07, 2012 and payment by successful bidders will be on September 10, 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

New Delhi: Bhadrapada 12, 1934; September 03, 2012

DSM/RS/GN

Government securities auction: uniform-price sale permitting competitive and noncompetitive bids with reserved allocation for eligible investors. Announcement of a re issue auction of multiple Central Government securities using the uniform price auction method, permitting both competitive and non competitive electronic bids on the Negotiated Dealing System with specified bid submission windows and up to five percent reserved for eligible individuals and institutions under the Scheme for Non Competitive Bidding Facility; auctions administered by the Reserve Bank of India with announced results and a specified settlement date, and the stocks eligible for When Issued trading under RBI guidelines.