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Government of India notifies the auction for sale (re-issue) of Government Securities.

Byadmin

Aug 30, 2022 #MOF

New Delhi, the 29th August, 2022

Auction for Sale (re-issue) of Government Security (GS)

F. No. 4(3)-B(W&M)/2022.— Government of India (GoI) hereby notifies sale (re-issue) of the following Government Securities.

Name of the
Security
Date of Original
Issue
Tenure
(yy-mm-dd)
Date of
Maturity
BaseMethodNotified
Amount
(in ₹ Crore)
6.69% GS 2024Jun 27, 202202-00-00June 27, 2024PriceUniform4,000
7.10% GS 2029Apr 18, 202207-00-00Apr 18, 2029PriceUniform7,000
7.26% GS 2032Aug 22, 202210-00-00Aug 22, 2032PriceUniform13,000
6.95% GS 2061Nov 22, 202140-00-24Dec 16, 2061PriceMultiple9,000

GoI will have the option to retain additional subscription up to Rs. 2,000 Crore against each security mentioned above. The sale will be subject to the terms and conditions spelt out in this notification (called ‘Specific Notification’). The Securities will be sold through Reserve Bank of India, Mumbai Office, Fort, Mumbai- 400 001 as per the terms and conditions specified in the General Notification F.No.4(2)– W&M/2018, dated March 27, 2018 issued by Government of India.

Allotment to Non-competitive Bidders

  1. 2. The Government Security up to 5% of the notified amount of the sale will be allotted to eligible individuals and institutions as per the enclosed Scheme for Non-competitive Bidding Facility in the Auctions of Government Securities (Annex).

Place and date of auction

  1. The auction will be conducted by Reserve Bank of India, Mumbai Office, Fort, Mumbai-400 001 on
    September 02, 2022. Bids for the auction should be submitted in electronic format on the Reserve Bank of
    India Core Banking Solution (E-Kuber) system on September 02, 2022. The non-competitive bids should be submitted between 10.30 a.m. and 11.00 a.m. and the competitive bids should be submitted between 10.30 a.m. and 11.30 a.m.

When Issued Trading

  1. 4. The Securities will be eligible for “When Issued” trading in accordance with the guidelines issued by the
    Reserve Bank of India.

Date of issue and payment for the security

  1. The result of the auction shall be placed by the Reserve Bank of India on its website (www.rbi.org.in) on
    September 02, 2022. The payment by successful bidders will be on September 05, 2022 i.e. the date of reissue. The payment for the securities will include accrued interest on the nominal value of the Securities
    allotted in the auction from the date of original issue / last coupon payment date to the date upto which
    accrued interest is due as mentioned in the table in para 6.

To Read More….
Click the link below….

Notification : https://www.dropbox.com/s/aji97rcdxkcmb6k/Reissue%20of%20Government%20Dated%20Securities.pdf?dl=0

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