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Date : Sep 30, 2019
Government of India announces the sale of five dated securities for ₹ 16,000 crore

Government of India (GoI) has announced the sale (issue/re-issue) of five dated securities as per the following details:

Sr No Security Notified Amount
(in ₹ crore)
Auction Date Settlement date
1 6.17% GS 2021 2,000 October 04, 2019
(Friday)
October 07, 2019
(Monday)
2 7.27% GS 2026 2,000
3 New GS 2029 7,000
4 7.62% GS 2039 1,000
5 7.63% GS 2059 4,000
  Total 16,000    

Subject to the limit of ₹16000 Cr being total notified amount, GoI will have the option to retain additional subscription up to ₹1000 Cr each against any one or more of the above securities. The auction be yield based (for the new security) and price based (for other securities), using multiple price method. Up to 5% 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.

Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on October 04, 2019. The non-competitive bids should be submitted between 11.30 a.m. and 12.00 noon and the competitive bids should be submitted between 11.30 a.m. and 12.30 pm. The result of the auctions will be announced on October 04, 2019.

Only in the event of system failure, physical bids would be accepted. Such physical bids should be submitted to the Public Debt Office (email; Phone no: 022-22632527, 022-22701299) in the prescribed form obtainable from RBI website (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) before the auction timing ends. In case of technical difficulties, Core Banking Operations Team should be contacted (email; Phone no: 022-27595414, 022-27595666). For other auction related difficulties, IDMD auction team can be contacted (email; Phone no: 022-22702431, 022-22705125).

The Stocks will qualify for Repurchase transactions (Repo) in accordance with the Repurchase transactions (Repo) Directions, 2018 as amended from time to time.

The underwriting of the Government Securities under auctions by the ‘Primary Dealers’ will be as per the “Revised Scheme of Underwriting Commitment and Liquidity Support” announced by the Reserve Bank vide circular RBI/2007-08/186 dated November 14, 2007. Bids for underwriting of the Additional Competitive Underwriting (ACU) portion can be submitted by ‘Primary Dealers’ from 9.00 AM up to 9.45 AM on October 04, 2019 (Friday) on the Reserve Bank of India Core Banking Solution (E-Kuber) system.

The Stocks will be eligible for “When Issued” trading for a period commencing from October 01, 2019 – October 04, 2019 in accordance with the guidelines on ‘When Issued transactions in Central Government Securities’ issued by the Reserve Bank of India vide circular No. RBI/2018-19/25 dated July 24, 2018 as amended from time to time.

Ajit Prasad
Director  

Press Release : 2019-2020/835


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