The Government of India (GOI) has announced the Sale (Re-issue) of (i) 5.22% Government Stock, 2025 for a notified amount of Rs 12,000 crore (nominal) through price based auction, (ii) '6.19 percent Government Stock, 2034 for a notified amount of Rs 11,000 crore (nominal) through price based auction, and (iii) 7.16% Government Stock, 2050 for a notified amount of Rs 7,000 crore (nominal) through price based auction. GoI will have the option to retain additional subscription up to Rs 2,000 crore each against any one or more of the above securities. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on July 10, 2020 (Friday) 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 July 10, 2020. The non-competitive bids should be submitted between 10.30 a.m. and 11.00 a.m. and the competitive bids should be submitted between 10.30 a.m. and 11.30 a.m. The result of the auctions will be announced on July 10, 2020 (Friday) and payment by successful bidders will be on July 13, 2020.
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