Government of India announces the sale of four dated securities for Rs 17,000 crore. The Government of India has announced the Sale (Re-issue) of (i) '7.32% Government Stock, 2024' for a notified amount of Rs. 5,000 crore (nominal) through price based auction, (ii) '7.26% Government Stock, 2029' for a notified amount of Rs. 6,000 crore (nominal) through price based auction, (iii) '7.69% Government Stock, 2043' for a notified amount of Rs 2,000 crore (nominal) through price based auction, and (iv) '7.72% Government Stock, 2049' for a notified amount of Rs. 4,000 crore (nominal) through price based auction.
Subject to the limit of Rs. 17,000 crore, being total notified amount, the Government of India 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. 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 May 24, 2019.
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