Auction of Government of India Dated Securities

Government of India have offered to sell (re-issue) (a) ‘8.07 percent Government Stock 2017-JUL’ for a notified amount of Rs.3,000 crore (nominal) through a price based auction using multiple price method vide (b) ‘8.33 percent Government Stock 2026’ for a notified amount of Rs.6,000 crore (nominal) through a price based auction using multiple price method and (c) ‘8.97 percent Government Stock 2030’ for a notified amount of Rs. 3,000 crore (nominal) through a price based auction using multiple price method.

2. We wish to draw your attention, in particular, to the following:

  1. The Stocks will be issued for a minimum amount of Rs.10,000/- (nominal) and in multiples of Rs.10,000/- thereafter.

  2. In all the auctions, Government Stock up to 5% of the notified amount of sale will be allotted to the eligible individuals and institutions under the Scheme for Non-competitive Bidding Facility in the Auctions of Government Securities.

  3. 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 18, 2013.

  4. An investor can submit more than one competitive bid at different prices in electronic format on Reserve Bank of India Core Banking Solution (E-Kuber) system.

  5. On the basis of bids received, the Reserve Bank will determine the minimum price up to which tenders for purchase of Government Stock will be accepted at the auctions.

  6. The result of the auctions will be announced on January 18, 2013 and payment by successful bidders will be on January 21, 2013 (Monday).

  7. The Government Stocks will be issued by credit to Subsidiary General Ledger Account (SGL) of parties maintaining such account with Reserve Bank of India or in the form of Stock Certificate. Interest on the Government Stock will be paid half-yearly.

  8. The Government Stocks will be repaid at par on July 03, 2017; July 09, 2026 and December 05, 2030.

  9. The Stocks will qualify for the ready forward facility.

To view the full notification please follow the link

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