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Date : Jul 29, 2022
Auction of State Government Securities

The following State Governments have offered to sell stock by way of auction, for an aggregate amount of ₹20,426 Crore (Face Value).

Sr. No. State Amount to be raised
(₹ Cr)
Additional Borrowing (Greenshoe) Option
(₹ Cr)
Tenure
(Yrs)
Type of Auction
1 Andhra Pradesh 1000 - 12 Yield
1000 - 20 Yield
2 Assam 800 - 10 Yield
3 Bihar 1000 - 10 Yield
4 Gujarat 1000 500 10 Yield
5 Himachal Pradesh 600 - 6 Yield
400 - 9 Yield
500 - 15 Yield
6 Kerala 2000 - 13 Yield
7 Madhya Pradesh 2000 - Re-issue of 7.85% Madhya Pradesh SDL 2032 issued on June 29, 2022 Price
8 Meghalaya 200 - 3 Yield
9 Mizoram 200 - 11 Yield
10 Nagaland 226 - 10 Yield
11 Punjab 1000 - 20 Yield
1000 - Re-issue of 7.94% Punjab SDL 2042 issued on July 13, 2022 Price
12 Rajasthan 1000 - 10 Yield
1000 - 22 Yield
13 Tamil Nadu 2000 - 10 Yield
14 Telangana 2500 - 14 Yield
15 West Bengal 1000 - 15 Yield
  TOTAL 20426      

The auction will be conducted on the Reserve Bank of India Core Banking Solution (E-Kuber) system on August 02, 2022 (Tuesday). The Government Stock up to Ten per cent of the notified amount of the sale of each stock will be allotted to eligible individuals and institutions subject to a maximum limit of One per cent of its notified amount for a single bid per stock as per the Scheme for Non-competitive Bidding Facility. Individual investors can also place bids as per the non-competitive scheme through the Retail Direct portal (https://rbiretaildirect.org.in).

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 02, 2022 (Tuesday). The competitive bids should be submitted between 10.30 A.M. and 11.30 A.M. and non-competitive bids should be submitted between 10.30 A.M. and 11.00 A.M.

In case of technical difficulties, Core Banking Operations Team (email; Phone no: 022-27595666, 022-27595415, 022-27523516) may be contacted.

For other auction related difficulties, IDMD Auction Team can be contacted (email; Phone no: 022-22702431, 022-22705125).

Only in the event of system failure, physical bids would be accepted. Such physical bids should be submitted to the Public Debt Office (email; Phone no: 022-22632527, 022-22701299) in the prescribed form obtainable from RBI website (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) before the auction timing ends.

The yield percent per annum expected by the bidder should be expressed up to two decimal points. An investor can submit more than one competitive bid at same/different rates of yield or prices in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system. However, the aggregate amount of bids submitted by a bidder should not exceed the notified amount for each State.

The Reserve Bank of India will determine the maximum yield /minimum price at which bids will be accepted. Stock will be issued for a minimum nominal amount of ₹10,000.00 and multiples of ₹10,000.00 thereafter.

The results of the auction will be announced on August 02, 2022 (Tuesday) and payment by successful bidders will be made during banking hours on August 03, 2022 (Wednesday) at Mumbai and at respective Regional Offices of RBI.

The new State Government Stocks will bear interest at the rates determined by RBI at the auctions. For the new stock, interest will be paid half yearly on February 03 and August 03 of each year till maturity. For the re-issued Government Stock, interest will be paid at the rate as determined on the date of original issue of Government Stock and will be paid on half yearly basis till maturity. The Stocks will be governed by the provisions of the Government Securities Act, 2006 and the Government Securities Regulations, 2007.

The investment in State Government Stocks will be reckoned as an eligible investment in Government Securities by banks for the purpose of Statutory Liquidity Ratio (SLR) under Section 24 of the Banking Regulation Act, 1949. The stocks will qualify for the ready forward facility.

Rupambara           
Director (Communications)

Press Release: 2022-2023/620


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