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Underwriting auctions for Inflation Indexed Government Stock announced

The underwriting auctions will be conducted using multiple price based auction method on June 3

May 31, 2013 1:10 IST | India Infoline News Service
The Government of India has announced the sale of new Inflation Indexed Government Stock-2023 on June 04, 2013 for a notified amount of Rs. 10 billion, the Reserve Bank of India (RBI) said in a press release today.

The amount of minimum underwriting commitment (MUC) amount per primary dealer Rs. 240 million and the minimum bidding commitment under additional competitive underwriting (ACU) for the underwriting auctions, per primary dealer, is Rs. 240 million.

The underwriting auctions will be conducted using multiple price based auction method on June 03, 2013. Primary dealers (PDs) may submit their bids for ACU auctions electronically through Core Banking Solution (E-Kuber) System between 10.30 a.m. and 12.00 noon on the date of auction.

The underwriting commission will be credited to the current account of the respective PDs at the RBI, Fort, and Mumbai on the date of issue of securities.

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