Press Information Bureau

Government of India

Ministry of Finance

25-September-2012 19:36 IST

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) “8.33 percent Government Stock 2026” for a notified amount of Rs. 6,000 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 28, 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 28, 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 28, 2012 and payment by successful bidders will be on October 01, 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.

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

North Block, New Delhi.

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DSM/RS

Auction of Government Securities: uniform-price re-issues offered with competitive and non-competitive bidding, electronic submission, and when-issued trading eligibility. Uniform-price auctions will be conducted by the Reserve Bank of India for re-issues of specified central government stocks; bids (competitive and non-competitive) must be submitted electronically on the Negotiated Dealing System within prescribed windows, up to five percent of each notified amount is reserved for eligible individuals and institutions under the non-competitive bidding scheme, auction results will be announced on the auction date and payment is scheduled for the notified settlement date, and the stocks are eligible for when-issued trading under RBI guidelines.