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Auction for sale of 7.37% Government Stock 

New Delhi: Government of India has announced the Sale (Re-issue) of (i) “7.37 per cent Government Stock, 2023”  for a notified amount of  3,000 crores (nominal) through price based auction, (ii) “7.17 per cent Government Stock, 2028” for a notified amount of `4,000 crore (nominal) through price based auction, (iii)“7.40 per cent Government Stock, 2035” for a notified amount of `2,000 crore (nominal) through price based auction, and (iv) “7.06 per cent Government Stock, 2046” for a notified amount of `3,000 crore (nominal) through price based auction. Subject to the limit of `12,000 crores, being the total notified amount, GoI will have the option to retain additional subscription up to
` 1,000 crores each against anyone or more of the above securities. 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 July 13, 2018(Friday).

2.  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.

3.   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 July 13, 2018. 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.  

4.  The result of the auctions will be announced on July 13, 2018 (Friday)and payment by successful bidders will be on July 16, 2018(Monday)

5.      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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