Government of India has announced the Sale (Re-issue) of (i) 8.24% Government Stock, 2027 for a notified amount of Rs 3,000 crore (nominal) through price based auction, (ii) 7.17% Government Stock, 2028 for a notified amount of Rs 4,000 crore (nominal) through price based auction, (iii) 7.50% Government Stock, 2034 for a notified amount of Rs 2,000 crore (nominal) through price based auction, and (iv) 7.72% Government Stock, 2055 for a notified amount of Rs 3,000 crore (nominal) through price based auction. Subject to the limit of Rs 12,000 crore, being total notified amount, GoI will have the option to retain additional subscription up to Rs 1,000 crore each against any one or more of the above securities. 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 December 7, 2018 (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 Government 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 7, 2018. The result of the auctions will be announced on December 7, 2018 (Friday) and payment by successful bidders will be on December 10, 2018 (Monday).
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