Auction for Sale (Re-Issue) of Government Stocks
Auction for Sale (Re-Issue) of Government Stocks
The Government of India have announced the Sale (re-issue) of (i) “7.68 per cent Government Stock 2023” for a notified amount of Rs.3,000 crore (nominal) through price based auction, (ii) “7.72 per cent Government Stock 2025” for a notified amount of Rs.6,000 crore (nominal) through price based auction, (iii) “8.24 per cent Government Stock 2033” for a notified amount of Rs.3,000 crore (nominal) through price based auction, and (iv) “8.13 per cent Government Stock 2045” for a notified amount of Rs.3,000 crore (nominal) through price based auction. The auctions will be conducted using multiple price method. The auctions will be conducted by the Reserve Bank of India (RBI), Mumbai Office, Fort, Mumbai on July 03, 2015 (Friday).
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 July 03, 2015. The non-competitive bids should be submitted between 10.30 a.m. and11.30 a.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 July 03, 2015 and payment by successful bidders will be on July 06, 2015 (Monday).
The Stocks will be eligible for “When Issued” trading in accordance with the guidelines on ‘When Issued transactions in Central Government Securities’ issued by the Reserve Bank of India (RBI), vide circular No.RBI/2006-07/178 dated November 16, 2006 as amended from time to time.
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Calendar for Auction of Government of India Treasury Bills (For the Quarter ending September 2015) Notified
After reviewing the cash position of the Government of India, in consultation with the Reserve Bank of India (RBI), the Government of India has decided to notify the amounts for the issuance of Treasury Bills for the quarter ending September 2015 as under:
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Notified Amount for Auction of Treasury Bills
(July 01, 2015 to September 30, 2015)
(Rs. Crore)
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||||
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Date of Auction
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91 Days
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182 Days
|
364 Days
|
Total
|
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02-July-2015
|
8,000
|
6,000
|
|
14,000
|
|
08-July-2015
|
8,000
|
|
6,000
|
14,000
|
|
15-July-2015
|
8,000
|
6,000
|
|
14,000
|
|
22-July-2015
|
8,000
|
|
6,000
|
14,000
|
|
29-July-2015
|
8,000
|
6,000
|
|
14,000
|
|
05-August-2015
|
8,000
|
|
6,000
|
14,000
|
|
12-August-2015
|
8,000
|
6,000
|
|
14,000
|
|
19-August-2015
|
9,000
|
|
5,000
|
14,000
|
|
26-August-2015
|
9,000
|
5,000
|
|
14,000
|
|
02-September-2015
|
9,000
|
|
5,000
|
14,000
|
|
09-September-2015
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9,000
|
5,000
|
|
14,000
|
|
16-September-2015
|
9,000
|
|
5,000
|
14,000
|
|
23-September-2015
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9,000
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5,000
|
|
14,000
|
|
30-September-2015
|
9,000
|
|
5,000
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14,000
|
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Total
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1,19,000
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39,000
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38,000
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1,96,000
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The Government of India/Reserve Bank of India will continue to have the flexibility to modify the notified amount and timing for auction of Treasury Bills depending upon the requirements of the Government, evolving market conditions, and other relevant factors. Thus, the calendar will be subject to change, if circumstances so warrant, including for the reasons, such as, intervening holidays. Such changes, if any, will be communicated through press release(s).
The auction of Treasury Bills will be subject to the terms and conditions specified in the General Notification No. F2(12)-W&M/97 dated March 31, 1998 issued by the Government of India, as amended from time to time.
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