Government to raise Rs15,000 crore through bond sale
09 Apr 2012
The Government of India will sell dated securities to raise a total of Rs15,000 crore on Friday, 13 April 2012 through price-based auction.
These will include re-issue of 8.24 per cent 2018 stock worth Rs4,000 crore, 8.79 per cent 2021 stock worth Rs7,000 crore, 8.28 per cent 2027 stock worth Rs2,000 crore, 8.33 per cent 2036 stock worth Rs2,000 crore,.
The Reserve Bank of India, Fort, Mumbai will conduct the auctions using uniform price method, an RBI release said today.
The stocks will be issued for a minimum amount of Rs10,000 (nominal) and in multiples of Rs10,000 thereafter.
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, RBI said.
Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Negotiated Dealing System (NDS) on 13 April 2012. The non-competitive bids should be submitted between 10.30 am and 11.30 am and the competitive bids should be submitted between 10.30 am and 12.00 pm. The stocks will be issued for a minimum amount of Rs10,000 (nominal) and in multiples of Rs10,000 thereafter.
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