Government announces sale of four dated securities for Rs 12,000 crore

New Delhi: Government has announced the Sale (re-issue) of  four dated securities.

The auctions will be conducted by the Reserve Bank of India, using multiple price method. The result of the auctions will be announced on December 28 and payment by successful bidders will be on December 31, an official release said.

The government has announced the sale of the following:

(i) ‘7.37 percent Government Stock, 2023’ for a notified amount of  Rs 3,000 crore (nominal) through price based auction
(ii) ‘7.17 percent Government Stock, 2028’ for a notified amount of Rs 4,000 crore (nominal) through price based auction
(iii) ‘8.24 percent Government Stock, 2033’ for a notified amount of Rs 2,000 crore (nominal) through price based auction, and
(iv) ‘7.06 percent Government Stock, 2046’ for a notified amount of Rs 3,000 crore (nominal) through price based auction.

Subject to the limit of Rs 12,000 crore, being total notified amount, government will have the option to retain additional subscription up to Rs 1,000 crore each against any one or more of the above securities.

Up to 5 percent 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 December 28, 2018.