Government of India (GoI) has announced the sale (re-issue) of four dated securities. These include 7.37% GS 2023 (Rs 3000 crore), 7.17% GS 2028 (Rs 4000 crore), 8.24% GS 2033 (Rs 2000 crore), 7.06% GS 2046 (Rs 3000 crore). The auction date is December 28, 2018 and the settlement would be done on December 31, 2018. Subject to the limit of Rs 12000 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 security.
The auction will be conducted using multiple price method. 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 December 28, 2018. 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 December 28, 2018. The stocks will qualify for the ready forward facility.
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