Press Information Bureau

Government of India

Ministry of Finance

26-December-2012 12:10 IST

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

(i) “8.12 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.6,000 crore (nominal) through price based auction; and

(iii) “a new 30 year Government Stock 2042” for a notified amount of Rs.3,000 crore (nominal) through yield 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 December 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 Reserve Bank of India Core Banking Solution (E-Kuber) System on December 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 December 28, 2012 and payment by successful bidders will be on December 31, 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

New Delhi: Pausha 5, 1934; December 26, 2012

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DSM/RS/ka

Government securities auction: sale of dated stocks via uniform price and yield-based auctions with non-competitive allocation. Sale of dated central government securities is announced via public auctions using the uniform price method for re-issues and a yield based auction for a new long-dated stock. Up to five percent of each notified amount is reserved under the Non-Competitive Bidding Facility for eligible individuals and institutions. Bids must be submitted electronically on the Reserve Bank of India Core Banking Solution (E-Kuber) within prescribed windows for non-competitive and competitive bids; allotment results and payment occur on specified settlement dates, and the stocks are eligible for When Issued trading per RBI guidelines.