Sale(re-issue) of Govt Stocks
Government of India have announced the sale (re-issue) of (i) “7.02 per cent Government Stock 2016” for a notified amount of Rs 3,000 crore (nominal) (ii) “6.90 per cent Government Stock 2019” for a notified amount of Rs 4,000 crore (nominal) and (iii) "8.28 per cent Government Stock 2032" for a notified amount of Rs 3,000 crore (nominal) through price based auctions. The auctions will be conducted using uniform price method. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on October 23, 2009 (Friday). Up to 5 per cent 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 Negotiated Dealing System (NDS) on October 23, 2009. 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 12.30 p.m. The result of the auctions will be announced on October 23, 2009 and payment by successful bidders will be on October 26, 2009 (Monday).
Courtesy: Ministry of Finance release
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