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Government of India announce the sale of four dated securities for ` 15,000 crore on October 18, 2013
October, 16th 2013

The Government of India have announced the sale (re-issue) of (i) “7.28 percent Government Stock 2019” for a notified amount of`4,000 crore (nominal) through price based auction; (ii) “7.16 percent Government Stock 2023” for a notified amount of `7,000 crore (nominal) through price based auction;(iii) “8.32 percent Government Stock 2032” for a notified amount of `2,000 crore (nominal) through price based auction, and (iv) “8.30 percent Government Stock 2042” for a notified amount of `2,000 crore (nominal) through price based auction. The auctions will be conducted using uniform price method. The auctions will be conducted by the Reserve Bank of India, Fort, Mumbai on October 18, 2013 (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 18, 2013. 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 18, 2013 and payment by successful bidders will be on October 21, 2013 (Monday).

The stocks will qualify for the ready forward facility.

The underwriting of the Government Securities under auctions by the ‘Primary Dealers’ will be as per the “Revised Scheme of Underwriting Commitment and Liquidity Support” announced by the Reserve Bank vide circular RBI/2007-08/186 dated November 14, 2007. Bids for underwriting of the Additional Competitive Underwriting (ACU) portion can be submitted by ‘Primary Dealers’ from 10:30 AM up to 12.00 noon on October 17, 2013 (Thursday) on the Reserve Bank of India Core Banking Solution (E-Kuber) system.

The Stocks will be eligible for “When Issued” trading for a period commencing from October 15, 2013 – October 18, 2013 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.

Ajit Prasad
Assistant General Manager

Press Release : 2013-2014/782

 
 
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