Auction for sale (Re-issue) of ‘8.07 per cent Government Stock, 2017,’ auction for sale (Re-issue) of ‘8.08 per cent Government Stock, 2022’ and Auction for sale (Re-issue) of ‘8.28 per cent Government Stock, 2027’.

Press Information Bureau

Government of India

Ministry of Finance

19-July-2011 10:44 IST

Auction for sale (Re-issue) of ‘8.07 per cent Government Stock, 2017,’ auction for sale (Re-issue) of ‘8.08 per cent Government Stock, 2022’ and Auction for sale (Re-issue) of ‘8.28 per cent Government Stock, 2027’

PRESS NOTE

Government of India have announced the sale (re-issue) of (i) “8.07 percent Government Stock 2017” for a notified amount of Rs.4,000 crore (nominal), (ii) “8.08 percent Government Stock  2022” for a notified amount of Rs.5,000 crore (nominal) and  (iii) “8.28 percent Government Stock 2027” for a notified amount of Rs.3,000 crore (nominal)  through price based auctions. The auctions will be conducted using uniform price method. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on July 22, 2011 (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 Negotiated Dealing System (NDS) on July 22, 2011. 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 12.30 p.m.

The result of the auctions will be announced July 22, 2011 and payment by successful bidders will be on July 25, 2011 (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.

Department of Economic Affairs, Ministry of Finance

New Delhi: Asadha 28, 1933; July 19, 2011

DSM/SS/GN