Sale of Government stocks on November 3

By Staff
|
Google Oneindia News

New Delhi, Oct 27 (UNI) The Government has announced the sale (re-issue) of "7.40 per cent Government Stock 2012" for a notified amount of Rs 6,000 crore (nominal) on November 3.

The sale (re-issue) of "7.50 per cent Government Stock 2034" for a notified amount of Rs 3,000 crore will be simultaneously held.

Both the stocks will be sold through price based auctions using multiple price method by the Reserve Bank of India at Mumbai.

Up to 5 per cent of the notified amount of the sale of both the stocks will be allotted to eligible individuals and institutions. Bids in the prescribed form should be submitted on November 3 by 1230 hrs.

NDS members should submit competitive as well as non-competitive bids in electronic format using Primary Market Operation (PMO) module of NDS.

Result of the auctions will be announced the same day and payment by successful bidders will be during banking hours on November 6.

UNI SD KR HS1941

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