The Government of India have announced the sale of a new 10 year Government Stock for a notified amount of Rs. 6,000 crore (nominal) through yield based auction using multiple price method. The Government of India have also announced the sale (re-issue) of “8.33 percent Government Stock 2036” for a notified amount of Rs.4,000 crore through a price based auction using multiple price method. The auctions will be conducted by the Reserve Bank of India (RBI) at Mumbai on Friday, July 6, 2007.

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 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 Friday, July 6, 2007.

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 auctions will be announced on July 6, 2007 (Friday) and payment by successful bidders will be during banking hours on July 9, 2007 (Monday).

The Stocks will qualify for the ready forward facility.

Posted: 07|2|07 at 3:23 pm. Filed under: Auction News.