Auction for Sale of Indian Government Stocks

The Government of India have announced the sale (re-issue) of “1.44% Inflation Indexed Government Stock-2023” for a notified amount of Rs. 500 crore (nominal) through price based auction. The auction will be conducted using uniform price method. The auction will be conducted by the Reserve Bank of India( RBI), Mumbai Office, Fort, Mumbai on January 29, 2014 (Wednesday).

Up to 20% 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 January 29, 2014 (Wednesday). 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.

The result of the auction will be announced on January 29, 2014 and payment by successful bidders will be on January 30, 2014 (Thursday).

The sale (re-issue) of “1.44% Inflation Indexed Government Stock-2023” for a notified amount of Rs. 500 crore would be issued within the budgeted Government market borrowing programme (about Rs.5,79,000 crore) for 2013-14 and indicative calendar for the marketable dated securities for the second half of 2013-14.

Government of India, Ministry of Finance, Department of Economic Affairs North Block, New Delhi-110001

Source PIB