Press Information Bureau

Government of India

Ministry of Finance

17-September-2012 18:40 IST

Auction for Sale of Government Stocks

Press Note

Government of India have announced the sale (New/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) “New 13 years Government Stock 2025” for a notified amount of Rs. 7,000 crore (nominal) through yield 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 September 21, 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 September 21, 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.  

4.   The result of the auctions will be announced on September 21, 2012 and payment by successful bidders will be on September 24, 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, Ministry of Finance

New Delhi: September 17, 2012

DSM/RS

 

Auction of government stocks announced: uniform and yield-based bidding with non-competitive allocation and set submission and payment schedules. Announcement of auctions for multiple Central Government stocks specifying instruments, auction formats (uniform price and yield-based), an allocation of up to 5% to eligible individuals and institutions under the Scheme for non-competitive bidding, electronic submission windows for competitive and non-competitive bids on the negotiated dealing system, announced auction results with a specified payment date, and eligibility of the stocks for When Issued trading in accordance with existing guidelines.