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Underwriting Auctions for Government Securities of ` 14,000 crore on November 20, 2014
November, 19th 2014

The Government of India has announced the sale (re-issue) of (i) ‘8.27 per cent Government Stock 2020’ for a notified amount of ` 2,000 crore (nominal); (ii) ‘New 12 Years Government Stock’ for a notified amount of 6,000 crore (nominal) (iii) ‘8.24 per cent Government Stock 2033’ for a notified amount of 3,000 crore (nominal) and (iv) ‘8.30 per cent Government Stock 2040’ for a notified amount of 3,000 crore (nominal) through auctions to be held on November 21, 2014.

As per revised scheme of underwriting, dated November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) for the underwriting auctions, per Primary Dealer, are:

(` in crore)

Nomenclature of the Security

Notified Amount

MUC amount per Primary Dealer

Minimum bidding commitment per PD under ACU auction

8.27 per cent GS 2020

2000

50

50

New 12 Years GS

6000

150

150

8.24 per cent GS 2033

3000

75

75

8.30 per cent GS 2040

3000

75

75

The underwriting auctions will be conducted using multiple price based auction method on November 20, 2014. Primary Dealers (PDs) may submit their bids for ACU auctions electronically through Core Banking System (E- Kuber) between 10.30 a.m. and 12.00 noon on the date of underwriting auction.

The underwriting commission will be credited to the current account of the respective PDs at the RBI, Fort, Mumbai on the date of issue of securities.

Ajit Prasad
Assistant General Manager

Press Release : 2014-2015/1014

 
 
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