RBI-Government of India announce the sale of Four dated securities for `15,000 crore on July 11, 2014
July, 09th 2014
The Governments of India have announced the sale (re-issue) of four dated securities as per the following details:
Notified Amount (` Cr)
8.27% Government Stock 2020
July 11, 2014 (Friday)
July 14, 2014 (Monday)
8.83% Government Stock 2023
8.32% Government Stock 2032
8.30% Government Stock 2042
The auctions will be conducted using uniform price method. 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 July 11, 2014. 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 July 11, 2014.
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 July 10, 2014 (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 July 8, 2014 – July 11, 2014 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.