Auction for sale (re-issue) of government stocks

New Delhi, June 16 (UNI) The Government today announced the sale (re-issue) of "7.37 per cent Government Stock, 2014" for a notified amount of Rs 5,000 crore (nominal) through a price based auction using multiple price method.

The sale (re-issue) of "7.94 per cent Government Stock, 2021" for a notified amount of Rs 4,000 crore (nominal) through a price based auction using uniform price method was also announced.

The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on June 22, a Ministry spokesman said here today.

Up to 5 per cent of the notified amount of the sale of both the stocks will be alloted to eligible individuals and institutions as per the scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.

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 June 22, 2006. 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 1230 hrs.

The results of the auctions will be announced the same day and payment by successful bidders will be during banking hours on June 23 (Friday).

As per the indicative calendar for issuance of marketable dated securities, the Government of India was to auction a 15-19 year security for a notified amount of Rs 5,000 crore between June 15-24. However, taking into account all relevant factors, the Government of India, in consultation with the RBI, has decided to auction two securities of 8 and 15 years tenure for Rs 5,000 crore and Rs 4,000 crore respectively during this period, the spokesman added.

UNI SD PV RK2005