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Auction for Sale (Re-Issue) of Government Stocks

Delhi 

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Auction for Sale (Re-Issue) of Stocks

The 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)“6.68 per cent Stock, 2031” for a notified amount of Rs.8,000 crore (nominal) through price based auction,   (iii) “6.57 per cent Stock, 2033” for a notified amount of Rs.1,000 crore (nominal) through price based auction, (iv) “7.40 per cent Stock  2035” for a notified amount of Rs.1,000 crore (nominal) through price based auction, (v) “7.72 per cent Stock, 2055” for a notified amount of  Rs. 2,000 crore (nominal) through price based auctionSubject to the limit of Rs. 15,000 crorebeing total notified amount, the of India 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 (RBI), Mumbai Office, Fort, Mumbai on December 8, 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 December 8, 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 December 8, 2017 (Friday) and payment by successful bidders will be on December 11, 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 (RBI) 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.)

First Published: Mon, December 04 2017. 22:20 IST