Press Information Bureau

Government of India

Ministry of Finance

14-January-2013 20:33 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. 6,000 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 multiple price method. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on January 18, 2013 (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 January 18, 2013. 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. and12.00 noon.  

The result of the auctions will be announced on January 18, 2013 and payment by successful bidders will be on January 21, 2013 (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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RS/-

Auction sale of government stock via multiple price method with non competitive bidding allocation and electronic submission requirements. Announcement of auction re issue of three central government stocks to be conducted by the Reserve Bank of India, Mumbai, using the multiple price method, with electronic bid submission via the E Kuber system. Up to five percent of each notified amount is reserved for allotment under the Non Competitive Bidding Facility. Specific electronic bidding windows are set for non competitive and competitive bids, with auction results and a later payment date. The stocks are eligible for When Issued trading under existing RBI guidelines.