Government of India (GoI) has announced the sale (issue/re-issue) of four dated securities for Rs 17000 crore. These include 7.32% GS 2024 ( Rs 5,000 crore), 7.26% GS 2029 (Rs 6,000 crore), GS 2043 ( Rs 2,000 crore) and 7.72% GS 2049 (Rs 4,000 crore). 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 security.
The auction be yield based (for new securities) and price based (for other securities), 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 April 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 April 26, 2019.
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