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Govt stock auctions on Apr 25

By Staff
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Mumbai, Apr 20 (UNI) The Government of India (GoI) has announced the sale of ''7.40 per cent Government Stock 2012'' and ''7.95 per cent Government Stock 2032'' for a notified amount of Rs 6,000 crore and Rs 4,000 crore respectively through a price-based auction using the multiple price method.

The auctions will be conducted by Reserve Bank of India (RBI) here on April 25, an official release today said.

Up to five 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 for both the auctions.

Bids in the prescribed form obtainable from the Regional Director, RBI, Mumbai office, Public Debt Office, Fort, should be submitted there on April 25 by 1230 hrs, stated the release, adding that the result of the auctions will be announced on the same day.

NDS members should submit competitive as well as non-competitive bids in elecronic format using primary market operation module of NDS.

Payment by successful bidders will be during banking hours on April 26 and the stocks will qualify for the ready-forward facility, stated the release.

The underwriting of the Government Securities under auctions by the primary dealers will be as per the ''Revised Scheme of Underwriting and Liquidity Support'' announced by the RBI recently.

Bids for underwriting of the Additional Competitive Underwriting (ACU) portion can be submitted by primary dealers upto 1230 hrs on April 24, using the primary market operation module of NDS, it added.

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