Tag Archive: Auction for Sale (Re-issue) of Government Stocks

Auction for Sale (Re-issue) of Government Stocks 

The Government of India has announced the Sale (Issue/Re-issue) of (i) ‘7.37 per cent Government Stock, 2023’for a notified amount of  Rs.3,000 crore (nominal) through price based auction, (ii)‘New Government Stock of 10 year tenor’ for a notified amount of Rs.4,000 crore (nominal) through yield based auction,(iii) ‘8.24 per cent Government Stock, 2033’ for a notified amount of Rs.2,000 crore (nominal) through price based auction, and (iv) ‘8.17 per cent Government Stock, 2044’ 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, Government of India will have the option to retain additional subscription up to Rs. 1,000 croreeach against anyone 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 (RBI), Mumbai Office, Fort, Mumbai on January11, 2019(Friday).

Up to 5% of the notified amount of the sale of the stockswill 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 January 11, 2019. The non-competitive bids should be submitted between 11.30 a.m. and 12.00 noonand the competitive bids should be submitted between 11.30 a.m.and 12.30 noon.

The result of the auctions will be announced on January 11, 2019 (Friday)and payment by successful bidders will be on January 14, 2019(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 (RBI) vide circular No. RBI/2018-19/25 dated July 24, 2018 as amended from time to time.

 

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Auction for Sale (Re-issue) of Government Stocks

The Government of India has announced the Sale (Re-issue) of (i) “7.37 per cent Government Stock, 2023”  for a notified amount of  Rs. 3000 crore (nominal) through price based auction, (ii) “7.17 per cent Government Stock, 2028” for a notified amount of Rs. 3,000 crore (nominal) through price based auction, (iii) “7.40 per cent Government Stock, 2035” for a notified amount of Rs. 2,000 crore (nominal) through price based auction, and (iv) “7.06 per cent Government Stock, 2046” for a notified amount of Rs. 3,000 crore (nominal) through price based auction. Subject to the limit of Rs. 11,000 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 October 12, 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 October 12, 2018. 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 October 12, 2018 (Friday) and payment by successful bidders will be on October 15, 2018 (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.