Auction
August 9, 2019 at 11:03 am | Latest Business News

Government declares auction for sale of 7.32% Government Stock 2024

New Delhi: Government of India has announced the Sale (Re-issue) of (i) ‘7.32 per cent Government Stock, 2024’ for a notified amount of Rs. 5,000 crore (nominal) through price based auction, (ii)‘7.26 per cent Government Stock, 2029’ for a notified amount of  Rs. 6,000 crore (nominal) through price based auction,(iii) ‘7.69 per cent Government Stock, 2043’ for a notified amount of Rs. 2,000 crore (nominal) through price based auction, and (iv) ‘7.72 per cent Government Stock, 2049’ for a notified amount of  Rs. 4,000 crore (nominal) through price based auction. Subject to the limit of Rs. 17,000 crore, being the total notified amount, GoI will have the option to retain additional subscription up to Rs. 1,000 crore each against any one or more of the above securities. 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 August 16, 2019 (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 August 16, 2019. The non-competitive bids should be submitted between 11.30 a.m. and 12.00 noon and the competitive bids should be submitted between 11.30 a.m. and
12.30 p.m.

The result of the auctions will be announced on August 16, 2019 (Friday) and payment by successful bidders will be on August 19, 2019 (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/2018-19/25 dated July 24, 2018, as amended from time to time.

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