Government of India Announces Sale Of Four Dated Securities For Rs 24000 Crore

The Government of India (GoI) has announced the Sale (Re-issue) of (i) '4.48% Government Security, 2023' for a notified amount of Rs 4,000 crore (nominal) through price based auction, (ii) 'GoI Floating Rate Bonds, 2033' for a notified amount of Rs 4,000 crore (nominal) through price based auction, (iii) '6.22% Government Security, 2035' for a notified amount of Rs 11,000 crore (nominal) through price based auction and (iv) '6.67% Government Security, 2050' for a notified amount of Rs 5,000 crore (nominal) through price based auction. GoI will have the option to retain additional subscription up to Rs 2,000 crore against each of the above 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 March 12, 2021. The non-competitive bids should be submitted between 10.30 a.m. and 11.00 a.m. and the competitive bids should be submitted between 10.30 a.m. and 11.30 a.m. The result of the auctions will be announced on March 12, 2021 (Friday) and payment by successful bidders will be on March 15, 2021 (Monday).

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