Feedback   New User   Login      
Tax Management India. Com TMI - Tax Management India. Com
Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Case Laws Manuals Short Notes Articles SMS News Highlights
        Home        
News
Home News News and Press Release Month 9 2017 2017 (9)
← Previous Next →
 

Auction for Sale (Re-issue) of Government Stocks

September 19, 2017
  • Contents

The Government of India have announced the Sale (re-issue) of (i) “6.84 per cent Government Stock, 2022” for a notified amount of  Rs.3000 crore (nominal) through price based auction,

(ii)“6.68 per cent Government Stock, 2031” for a notified amount of Rs.8,000 crore (nominal) through price based auction,   (iii) “6.57 per cent Government Stock  2033” for a notified amount of Rs.2,000 crore (nominal) through price based auction,   (iv) “7.06 per cent Government Stock, 2046” for a notified amount of  Rs. 2,000 crore (nominal) through price based auction. The auctions will be conducted using multiple price method. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on September 22, 2017 (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
September 22, 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 September 22, 2017 (Friday) and payment by successful bidders will be on September 25, 2017 (Monday).  

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.

← Previous Next →
Discussion Forum
what is new what is new
 


Share:            

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version