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Auction for Sale (Re-issue) of Government of India Floating Rate Bonds and Government Stocks.

Delhi 

Auction for Sale (Re-issue) of of Floating Rate Bonds and Stocks.

The of has announced the Sale (re-issue) of (i) “of Floating Rate Bonds 2024” for a notified amount of  Rs. 3000 crore (nominal) through price based auction, (ii) “6.79 per cent Stock, 2027” for a notified amount of ' 8,000 crore (nominal) through price based auction, (iii) “7.73 per cent Stock  2034” for a notified amount of Rs.2,000 crore(nominal) through price based auction, (iv) “7.06 per cent Stock, 2046” for a notified amount of  Rs. 2,000 crore (nominal) through price based auction. Subject to the limit of Rs. 15,000 crore, being total notified amount, GoI will have the option to retain additional subscription up to Rs.1,000 crore against any of the above security. 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 October 13, 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 Securities.

   Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Core Banking Solution (E-Kuber) system on 
October 13, 2017. 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 October 13, 2017 (Friday) and payment by successful bidders will be on October 16, 2017 (Monday).   

   The Stocks will be eligible for “When Issued” trading in accordance with the guidelines on ‘When Issued transactions in Central Securities’ issued by the Reserve vide circular No. RBI/2006-07/178 dated November 16, 2006 as amended from time to time.

                                            

                                             

     

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First Published: Mon, October 09 2017. 00:20 IST