Government of India (GoI) has announced the sale (re-issue) of five dated securities for Rs 17000 crore. These include 7.00% GS 2021 (Rs 3000 crore), 7.27% GS 2026 (Rs 3000 crore), GOI FRB 2031 (Rs 5000 crore), 7.62% GS 2039 (Rs 2000 crore) and 7.63% GS 2059 (Rs 4000 crore). Subject to the limit of Rs 17000 crore being total notified amount, GoI will have the option to retain additional subscription up to Rs 1000 crore each against any one or more of the above securities.
The auction will be price based 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 May 31, 2019.
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