Government of India to sell bonds worth Rs13,000 crore on 15 April
09 Apr 2010
The Government of India has announced the sale of three dated securities, to raise a total of around Rs13,000 crore, in the first auctions of the current fiscal.
Accordingly, the Reserve Bank of India, on behalf of the government, will (re-issue) 7.38 per cent 2015 GOI stock for a notified amount of Rs6,000 crore; 8.20 per cent 2022 stock for a notified amount of Rs4,000 crore and 8.28 per cent 2032 stock for a notified amount of Rs3,000 crore through price-based auctions.
The auctions will be conducted using uniform price method by the Reserve Bank of India at its Mumbai office on 15 April 2010, RBI said in a release.
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.
Bids for the auction - both competitive and non-competitive - should be submitted in electronic format on the Negotiated Dealing System (NDS) on 15 April 2010. 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 12.30 pm.
The result of the auctions will be announced on the same dayu and payment by successful bidders will be accepted on 16 April 2010 (Friday).
