Government of India
Ministry of Finance
Department of Economic Affairs
Budget Division New Delhi, dated April 09, 2018 NOTIFICATION Auction for Sale (Issue/Re-issue) of Government Stock (GS) F.No.4(6)W&M/2018:Government of India(GoI) hereby notifies sale(issue/re-issue) of the following Government Stocks: | Name of the Security | Date of Original Issue | Tenure
(yy-mm-dd) | Date of Maturity | Base | Method | Notified Amount
(in ₹ Crore) | | NI GS 2023 | Apr 16, 2018 | 05-00-00 | Apr 16, 2023 | Yield | Multiple | 3000 | | 6.68% GS 2031 | Sep 04, 2017 | 14-00-13 | Sep 17, 2031 | Price | Multiple | 4000 | | 7.73% GS 2034 | Oct 12, 2015 | 19-02-07 | Dec 19, 2034 | Price | Multiple | 2000 | | 7.06% GS 2046 | Oct 10, 2016 | 30-00-00 | Oct 10, 2046 | Price | Multiple | 3000 | Subject to the limit of Rs 12000 Cr, being total notified amount, GoI will have the option to retain additional subscription up to Rs 1000 Cr each against any one or more of the above securities. The sale will be subject to the terms and conditions spelt out in this notification (called ‘Specific Notification’). The Stock will be sold through Reserve Bank of India, Mumbai Office, Fort, Mumbai- 400 001 as per the terms and conditions specified in the General Notification F.No.4(2)–W&M/2018, dated March 26, 2018 issued by Government of India. Allotment to Non-competitive Bidders
2. The Government Stock up to 5% of the notified amount of the sale will be allotted to eligible individuals and institutions as per the enclosed Scheme for Non-competitive Bidding Facility in the Auctions of Government Securities (Annex). Place and date of auction
3. The auction will be conducted by Reserve Bank of India, Mumbai Office, Fort, Mumbai-400 001 on April 13, 2018. Bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on April 13, 2018. 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. When Issued Trading
4. The Stock will be eligible for “When Issued” trading in accordance with the guidelines issued by the Reserve Bank of India. Date of issue and payment for the stock
5. The result of the auction shall be displayed by the Reserve Bank of India at its Fort, Mumbai Office on April 13, 2018. The payment by successful bidders will be on April 16, 2018 i.e. the date of issue/re-issue. The payment for the stocks will include accrued interest on the nominal value of the Stock allotted in the auction from the date of original issue / last coupon payment date to the date upto which accrued interest is due as mentioned in the table in para 6. Payment of Interest and Re-payment of Stock
6. Interest will accrue on the nominal value of the Stock from the date of original issue / last coupon payment and will be paid half yearly. The Stock will be repaid at par on date of maturity. | Name of the Security | Coupon rate (%) | Date of Last Coupon payment | Date upto which accrued interest is due | Date of Coupon payments
(month / date) | | New GS of 5 year | New Stock# | New Stock | New Stock | Apr 16 and Oct 16 | | 6.68% GS 2031 | 6.68 | Mar 17, 2018 | Apr 15, 2018 | Mar 17 and Sep 17 | | 7.73% GS 2034 | 7.73 | Dec 19, 2017 | Apr 15, 2018 | Jun 19 and Dec 19 | | 7.06% GS 2046 | 7.06 | April 10, 2018 | Apr 15, 2018 | Oct 10 and Apr 10 | | # The coupon rate for the securities will be set at the cut-off yield to maturity rate decided in the auction. The interest will be payable half-yearly. | By Order of the President of India (Prashant Goyal)
Joint Secretary to the Government of India |