The sale (re-issue) of government stocks through price-based auction include “6.79 per cent Government Stock 2029” for a notified amount of Rs. 5,000 crore (nominal) , “6.57 per cent Government Stock 2033” for a notified amount of Rs. 2,000 crore (nominal), and “6.62 per cent Government Stock, 2051” for a notified amount of Rs. 2,000 crore (nominal).
Auctions will be conducted using multiple price method by the Reserve Bank of India, Mumbai Office, Mumbai on Friday, Jan 6, 2017.
Up to 5 per cent 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 Jan 6, 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 Jan 6, 2017 and payment by successful bidders will be on Jan 9, 2017.
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, the Ministry said.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
