RBI announces auctions of government stocks worth Rs 8,000

Mumbai, May 23 (UNI) Reserve Bank of India (RBI) will hold the underwriting auctions for two government stocks worth a total of Rs 8,000 crore.

The auctions, comprising '7.38 per cent government stock 2015' for an amount of Rs 5,000 crore and '8.35 per cent government stock 2022' for an amount of Rs 3,000 crore will be held on May 24, an RBI release said here today.

As per the revised schemes, the amounts of minimum underwriting commitment (MUC) for the auctions are Rs 139 crore and Rs 84 crore respectively.

The additional competitive underwriting (ACU) for the auctions have been fixed at Rs 2,498 crore and Rs 1,488 crore respectively.

The auctions will be conducted by using multiple price based auction method.

Primary dealers should submit their bids for auctions on May 24, said RBI. The underwriting commission will be credited to the current account of the respective primary dealers at the reserve bank, said RBI.

UNI