Auction for Sale (Re-issue) of ‘8.97 per cent Government Stock, 2030’

The Government of India hereby notifies sale (re-issue) of ‘8.97 per cent Government Stock, 2030’ (hereinafter called ‘the Stock’) for an aggregate amount of Rs. 3,000 crore (nominal). The sale will be subject to the terms and conditions.

Method of Issue
1. The Stock will be sold through Reserve Bank of India, Mumbai Office, Fort, Mumbai- 400 001 in the manner as prescribed by a price based auction using multiple price auction method.

Allotment to Non-competitive Bidders
2. The Government Stock up to 5% of the notified amount of the sale will be allotted to eligible individuals and institutions as per the enclosed Scheme for Non-competitive Bidding Facility in the Auctions of Government Securities (Annex).

Place and date of auction
3. The auction will be conducted by Reserve Bank of India, Mumbai Office, Fort, Mumbai-400 001 on January 18, 2013. .

When Issued Trading
4. The Stock will be eligible for ‘When Issued’ trading in accordance with the guidelines issued by the Reserve Bank of India.

Tenure
5. The Stock will be of nineteen-year tenure commencing from December 05, 2011. The Stock will be repaid at par on December 05, 2030.

Date of issue and payment for the stock
6.  The payment for the Stock will include accrued interest on the nominal value of the Stock allotted in the auction from the date of last coupon payment i.e., December 05, 2012 to January 20, 2013.

Interest
7. Interest at the rate of 8.97 per cent per annum will accrue on the nominal value of the Stock from the date of last coupon payment and will be paid half yearly on June 05 and December 05.

 To view the full notification please follow the link

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