Government of India has announced the Sale (re-issue)
of
(i)
“Government of India Floating Rate Bonds 2024” for a notified amount of
` 3000 crore
(nominal) through price based auction,
(ii)
(ii) “6.79 per cent Government Stock, 2027” for a notified amount of ` 8,000 crore
(nominal) through price based auction,
(iii)
(iii) “7.73 per cent Government Stock 2034” for a notified amount of ` 2,000 crore
(nominal) through price based auction,
(iv)
(iv) “7.06 per cent Government Stock, 2046” for a notified amount of ` 2,000 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 August 11, 2017 (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
August 11, 2017. 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 August 11, 2017
(Friday) and payment by successful bidders will be on August 14, 2017 (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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DSM/SBS
