loader

Breaking News

Foto

Auction for sale or re-issue of government stocks

New Delhi: The Government of India has announced the Sale (Re-issue) of (i) ‘7.32 per cent Government Stock, 2024’ for a notified amount of Rs. 3,000 crore (nominal) through price based auction,(ii)‘‘7.26 per cent Government Stock, 2029’ for a notified amount of  Rs.4,000 crore (nominal) through price based auction,(iii) ‘8.24 per cent Government Stock, 2033’ for a notified amount of Rs.2,000 crore (nominal) through price based auction, and (iv) ‘7.06 per cent Government Stock, 2046’ for a notified amount of Rs.3,000 crore (nominal) through price based auction.

Subject to the limit of Rs. 12,000 crore, being the total notified amount, the Government of India will have the option to retain additional subscription up to Rs. 1,000 crore each against anyone or more of the above securities. The auctions will be conducted using the multiple price method. The auctions will be conducted by the Reserve Bank of India (RBI), Mumbai Office, Fort, Mumbai on February 8, 2019(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 February 8, 2019. The non-competitive bids should be submitted between 11.30 a.m. and 12.00 noon and the competitive bids should be submitted between 11.30 a.m.and 12.30 p.m.

The result of the auctions will be announced on February 8, 2019 (Friday)and payment by successful bidders will be on February 11, 2019(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/2018-19/25 dated July 24, 2018, as amended from time to time.

Share This