The Government of India has announced the sale (new/re-issue) of four dated securities as per the following details: | Sr. No. | Security | Notified Amount
(₹ Crore) | Auction Date | Settlement date | | 1 | 7.68% GS 2023 | 3,000 | May 08, 2015
(Friday) | May 11, 2015
(Monday) | | 2 | New Security maturing on March 19 , 2030 | 7,000 | | 3 | 8.24% GS 2033 | 3,000 | | 4. | 8.17% GS 2044 | 3,000 | Auction for the new security will be on yield based auction format whereas other securities will be offered through price based auction. The auctions will be conducted using multiple price method. 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 May 08, 2015. The non-competitive bids should be submitted between 10.30a.m. and 11.30a.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 May 08, 2015. The stocks will qualify for the ready forward facility. The underwriting of the Government Securities under auctions by the ‘Primary Dealers’ will be as per the “Revised Scheme of Underwriting Commitment and Liquidity Support” announced by the Reserve Bank vide circular RBI/2007-08/186 dated November 14, 2007. Bids for underwriting of the Additional Competitive Underwriting (ACU) portion can be submitted by ‘Primary Dealers’ from 10:30 AM up to 12.00 noon on May 07, 2015 (Thursday) on the Reserve Bank of India Core Banking Solution (E-Kuber) system. The Stocks will be eligible for “When Issued” trading for a period commencing from May 05, 2015–May 08, 2015 in accordance with the guidelines on ‘When Issued transactions in Central Government Securities’ issued by the Reserve Bank of India vide circular No. RBI /2006-07/178 dated November 16, 2006 as amended from time to time. The new stock maturing on maturing on March 19, 2030 will be reckoned as an eligible investment in Government Security by banks for SLR purpose under Section 24 of the Banking Regulation Act, 1949. Ajit Prasad
Assistant General Manager Press Release : 2014-2015/2312 |