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Auction for Sale (Re-issue) of Government Stocks

Delhi 

Auction for Sale (Re-issue) of Stocks

 of India have announced the Sale (re-issue) of (i) “6.84 per cent Stock, 2022” for a notified amount of  Rs. 3000 crore (nominal) through price based auction, (ii) “6.79 per cent Stock  2029” for a notified amount of Rs. 7,000 crore (nominal) through price based auction,   (iii) “6.57 per cent Stock  2033” for a notified amount of Rs. 2,000 crore (nominal) through price based auction,   (iv) “6.62 per cent Stock, 2051” for a notified amount of  Rs. 3,000 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 July 21, 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 Bank of India Core Banking Solution (E-Kuber) system on July 21, 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 July 21, 2017 (Friday) and payment by successful bidders will be on July 24, 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 Bank of India vide circular No. RBI/2006-07/178 dated November 16, 2006 as amended from time to time.

 

 

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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