Monday, 1 October 2012

Auction for Sale of Government Stocks


New Delhi:(Page3 News Network)-Government of India have announced the sale (re-issue) of (i) “8.19 percent Government Stock 2020” for a notified amount of Rs.3,000 crore (nominal) through
price based auction,  (ii) “8.20 percent Government Stock 2025” for a notified amount of 

Rs. 7,000 crore (nominal) through price based auction; and (iii) “8.83 percent Government Stock 2041” for a notified amount of Rs.3,000 crore (nominal) through price based auction. The auctions will be conducted using uniform price method. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on October 05, 2012 (Friday).  
            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 Negotiated Dealing System (NDS) on October 05, 2012. The
non-competitive bids should be submitted between 10.30 a.m. and 11.30 a.mand the competitive bids should be submitted between 10.30 a.m. and 12.00 noon.  
 
                            The result of the auctions will be announced on October 05, 2012 and payment by successful bidders will be on October 08, 2012 (Monday).   
                                  The Stocks will be eligible for “When Issued” trading in accordance with the guidelines on ‘When Issued transactions in Central Government Securities’ issued by the Reserve Bank of India vide circular No. RBI /2006-07/178 dated November 16, 2006 as amended from time to time.

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