Government Stocks worth Rs 14000 crore to be auctioned for re-issue
For the sale of the stocks, up to 5% of the notified amount will be allotted to eligible individuals and institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.
FinMin announces auction for sale of government stocksGovernment of India today, announced the auction for sale (re-issue) of its four stocks worth Rs 14000 crore on September 23,2016.
The auction of the government stocks will be conducted by the Reserve Bank of India, adapting a multiple price method.
These government stocks are - (i) "6.84% government stock 2022" for Rs 2000 crore, (ii) "6.97% government stock 2026" for Rs 8000 crore, (iii) "7.73% government stock 2034" for Rs 2000 crore and (iv) “8.13% Government Stock 2045” for Rs 2000 crore.
For the sale of the stocks, up to 5% of the notified amount 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 the auction day.
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 (RBI) vide circular No. RBI/2006-07/178 dated November 16, 2006 as amended from time to time.
