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Press Information Bureau
Government of India
Ministry of Finance
22-July-2019 20:22 IST
Auction for Sale (Re-Issue) of ‘6.17% GS 2021’, Auction for Sale (Re-Issue) of ‘7.27% GS 2026’, Auction for Sale (Re-issue) of ‘GoI Floating Rate Bond 2031’, Auction for Sale (Re-Issue) of ‘7.62% GS 2039’, and Auction for Sale (Re-Issue) of ‘7.63% GS 2059’

Government of India (GoI) has announced the sale (Re-issue) of (i) 6.17 per cent Government Stock 2021” for a notified amount of Rs 3,000 crore (nominal) through price based auction, (ii) 7.27 per cent Government Stock 2026” for a notified amount of Rs 3,000 crore (nominal) through price based auction, (iii) “GoI Floating Rate Bond 2031” for a notified amount of Rs 5,000 crore (nominal) through price based auction, (iv) “7.62 per cent Government Stock 2039” for a notified amount of Rs 2,000 crore (nominal) through price based auction and (v) “7.63 per cent Government Stock 2059” for a notified amount of Rs 4,000 crore (nominal) through price based auction,. Subject to the limit of Rs 17000 Cr, being total notified amount, GoI will have the option to retain additional subscription up to Rs 1000 Cr 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 Friday, July 26, 2019.

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 26, 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 pm.

The result of the auctions will be announced on July 26, 2019 (Friday) and payment by successful bidders will be on July 29, 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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