Press Information Bureau

Government of India

Ministry of Finance

20-November-2012 13:56 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 23, 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 23, 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 23, 2012 and payment by successful bidders will be on November 26, 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.

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DSM/RS

Auction of Government Securities: re-issue using uniform price method with non competitive facility and electronic bidding required. Re-issue auctions for three government securities will be conducted using the uniform price method on the announced auction date; competitive and non competitive bids must be submitted electronically through the designated core banking/electronic bidding system within specified time windows. Up to five percent of each notified amount is reserved for eligible individuals and institutions under the Scheme for Non Competitive Bidding Facility, auction results will be announced on the auction date, payment by successful bidders is scheduled for the stated settlement date, and the stocks will be eligible for when issued trading under existing guidelines.