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Govt announces sale of securities worth Rs. 150 bn

Up to 5% of the notified amount of the sale of the stocks will be allotted to eligible individuals

August 20, 2013 11:16 IST | India Infoline News Service
The Government of India has announced the sale (Re-issue) of (i) “8.12 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. 6,000 crore (nominal) through price based auction; (iii) “8.32 percent Government Stock 2032” for a notified amount of `3,000 crore (nominal) through price based auction; and (iv) “8.30 percent Government Stock 2042” 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, Fort, Mumbai on August 23, 2013 (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 Reserve Bank of India Core Banking Solution (E-Kuber) system on August 23, 2013. The non-competitive bids should be submitted between 10.30 a.m. and 11.30 a.m. and the competitive bids should be submitted between 10.30 a.m. and 12.00 noon.

The result of the auctions will be announced on August 23 2013 and payment by successful bidders will be on August 26, 2013 (Monday). The stocks will qualify for the ready forward facility.

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