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The Union Government announces the sale (re-issue) of “Government of India Floating Rate Bonds 2024”, “6.79 per cent Government Stock 2029”, “6.57 per cent Government Stock 2033” and “6.62 per cent Government Stock 2051”
 

The auctions will be conducted on April 21, 2017 using multiple price method


New Delhi: April 17,2017

The Union Government has announced the sale (re-issue) of the following:

 

(i)                 “Government of India Floating Rate Bonds 2024” for a notified amount of Rs. 3,000 crore (nominal) through price based auction,

(ii)               “6.79 per cent Government Stock 2029” for a notified amount of Rs. 7,000 crore (nominal) through price based auction,

(iii)             “6.57 per cent Government Stock 2033” for a notified amount of Rs. 2,000 crore (nominal) through price based auction,

(iv)             “6.62 per cent Government Stock 2051” for a notified amount of Rs. 3,000 crore (nominal) through price based auction. 

 

The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on April 21, 2017 (Friday) using multiple price method.

 

Up to 5% of the notified amount of the sale of the stocks will be allotted to the 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 April 21, 2017.  The non-competitive bids should be submitted between 10.30 a.m. and 11.30 a.m. and the competitive bids should be submitted between 10.30 a.m. and 12.00 noon.

 

The result of the auctions will be announced on April 21, 2017 and payment by successful bidders will be on April 24, 2017 (Monday).

 

The Stocks will be eligible for “When Issued” trading in accordance with the guidelines on ‘When Issued transactions in Central Government Securities’ issued by the Reserve Bank of India vide circular No. RBI/2006-07/178 dated November 16, 2006 as amended from time to time.

 

 

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