Tuesday, 19 November 2013

Auction for Sale (Re-issue) of Government Stocks

The Government of India have announced the Sale (issue/re-issue) of (i)“ 7.28percent Government Stock 2019” for a notified amount of Rs. 3,000 crore(nominal) through price based auction, (ii) “New 10 year Government Stock, 2023” for a notified amount of Rs. 7,000 crore (nominal) through yield based auction,  (iii) “8.32 percent Government Stock 2032” for a notified amount of Rs.2,000 crore (nominal) through price based auction ,  and (iv) “8.30 percent Government Stock 2042” for a notified amount of Rs. 3,000 crore (nominal) through price based auction. The auctions will be conducted using uniform pricemethod. The auctions will be conducted by the Reserve Bank of India (RBI), Mumbai Office, Fort, Mumbai on November 22, 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 (RBI) Core Banking Solution (E-Kuber) system on November 22, 2013. The non-competitive bids should be submitted between 10.30 a.m. and 11.30 a.mand 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 22, 2013 and payment by successful bidders will be on November 25, 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 (RBI) 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: Kartika 27, 1935; November 18, 2013

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