Repurchase auction is scheduled to be conducted on 16 September 2014
The Government of India has notified the repurchase of its securities through reverse auction for an aggregate amount of Rs 20000 crore (face value). The security-wise notified for the repurchase includes, 7.32% GS 2014 (20 October 2014), 7.56% GS 2014 (03 November 2014), 6.49% GS 2015 (08 June 2015), 7.17% GS 2015 (14 June 2015) and 7.38% GS 2015 (conv) (03 September 2015).The repurchase by the Government of India will be undertaken to prematurely redeem the Government Stocks by utilizing surplus cash balances. The repurchase of the Government Stocks is purely adhoc in nature.
Auction for securities will be on price based auction format. The auctions will be conducted using multiple price method. The repurchase auction is scheduled to be conducted on 16 September 2014.
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