Press Information Bureau

Government of India

Ministry of Finance

05-November-2012 19:05 IST

Government of India have announced the sale (re-issue) of-

(i) “8.19 percent Government Stock 2020” for a notified amount of Rs. 3,000 crore (nominal) through  price based auction,

(ii) “8.20 percent Government Stock 2025” for a notified amount of Rs. 7,000 crore (nominal) through price based auction; and

(iii) “8.83 percent Government Stock 2041” for a notified amount of Rs. 3,000 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 November 09, 2012 (Friday). 

Up to 5% of the notified amount of the sale of the stockswill 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 Reserve Bank of India Core Banking Solution (E-Kuber) System on November 09, 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 November 09, 2012 and payment by successful bidders will be on November 12, 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

North Block, New Delhi, dated, the November 05, 2012

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DSM/RS

Auction of government stocks: uniform-price re-issues with non-competitive allocation and electronic bidding, scheduled result and payment. Price-based auctions for re-issues of Government Stock (8.19% 2020; 8.20% 2025; 8.83% 2041) will be conducted by the Reserve Bank of India using the uniform price method via the E-Kuber system; competitive and non-competitive bids have specified submission windows, up to a prescribed percentage will be allotted under the Non-Competitive Bidding Facility, auction results and payment dates are scheduled, and the Stocks are eligible for When Issued trading under RBI guidelines.