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Government of India have announced the sale
of a new 15 year Government Stock for a notified amount of Rs. 5,000 crore (nominal)
through yield based auction using uniform price method. The auction will be
conducted by the Reserve Bank of India (RBI) at Mumbai on Tuesday, May 23, 2006.
Up to 5% of the notified amount of the sale
of the stock will be allotted to eligible individuals and institutions
as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government
Securities for both the auctions.
Bids in the prescribed form obtainable
from the Regional Director, Reserve Bank of India, Mumbai Office, Public Debt
Office, Fort, Mumbai-400 001 and RBI website www.rbi.org.in
should be submitted to that Office on Tuesday, May 23, 2006. The NDS members
should submit competitive as well as non-competitive bids in electronic format
using Primary Market Operation (PMO) module of NDS. All bids should be submitted
by 12.30 P.M.
The result of the auction will be announced
on May 23, 2006 (Tuesday) and payment by successful bidders will be during banking
hours on May 24, 2006 (Wednesday).
The Stock will qualify for the ready forward
facility.
The underwriting of the Government Securities
under auction by the ‘Primary Dealers’ will be as per the "Revised Scheme
of Underwriting and Liquidity Support" announced by the Reserve Bank vide
circular RBI/2005-06/347
dated April 4, 2006. Bids for underwriting of the Additional Competitive
Underwriting (ACU) portion can be submitted by ‘Primary Dealers’ up to 12.30
P.M on May 22, 2006 (Monday) using PMO module of NDS.
Ajit Prasad
Manager
Press Release : 2005-2006/1491
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