Press Information Bureau

Government of India

Ministry of Finance

26-November-2012 20:16 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. 3,000 crore (nominal) through price based auction,  (ii) “8.33 percent Government Stock 2026” for a notified amount of Rs. 7,000 crore (nominal) through price based auction, and (iii) “8.97 percent Government Stock 2030” 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 30, 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 30, 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 30, 2012 and payment by successful bidders will be on December 03, 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, Dated, the November 26, 2012

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RS/

Government securities auction: uniform price re-issue with non-competitive allocation and electronic bidding under prescribed timelines. Announcement of re-issuance of three central government stocks via uniform price price-based auction with prescribed notified amounts; up to 5% of each issue reserved for eligible individuals and institutions under a non-competitive bidding facility; both competitive and non-competitive bids to be submitted electronically on the central bank core banking/e-auction system within specified windows on the auction date; results and payment dates fixed; stocks eligible for when issued trading under existing guidelines.