Non-competitive bidding in government securities enables retail investors limited allotment at auction prices for selected dated stocks. Re-issue of thirty-year Government Stock will be sold by a price-based multiple price auction through RBI; auction date, submission deadline, payment date and inclusion of accrued interest are specified. The Stock is eligible for When Issued trading. A Non-competitive Bidding Facility reserves up to five percent of the notified amount for eligible investors subject to single-bid limits, submission via banks or PDs (with exceptions), minimum denomination rules, allocation at the weighted average auction yield/price, pro rata allotment if oversubscribed, SGL/CSGL issuance, and specified brokerage and reporting obligations.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Non-competitive bidding in government securities enables retail investors limited allotment at auction prices for selected dated stocks.
Re-issue of thirty-year Government Stock will be sold by a price-based multiple price auction through RBI; auction date, submission deadline, payment date and inclusion of accrued interest are specified. The Stock is eligible for When Issued trading. A Non-competitive Bidding Facility reserves up to five percent of the notified amount for eligible investors subject to single-bid limits, submission via banks or PDs (with exceptions), minimum denomination rules, allocation at the weighted average auction yield/price, pro rata allotment if oversubscribed, SGL/CSGL issuance, and specified brokerage and reporting obligations.
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