Notifications

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Auction for Sale (Re-issue) of Government Stock (GS)

Government of India
Ministry of Finance
Department of Economic Affairs
Budget Division

New Delhi, dated December 5, 2017

NOTIFICATION

Auction for Sale (Re-issue) of Government Stock (GS)

F.No.4(7)W&M/2017:Government of India(GoI) hereby notifies sale(re-issue) of the following Government Stocks:

Name of the Security Date of Original Issue Tenure
(yy-mm-dd)
Date of Maturity Base Method Notified Amount
(in ₹ Crore)
6.84% GS 2022 Sep 12, 2016 06-03-07 Dec 19, 2022 Price Multiple 3000
6.68% GS 2031 Sep 04, 2017 14-00-13 Sep 17, 2031 Price Multiple 8000
6.57% GS 2033 Dec 05, 2016 17-00-00 Dec. 05, 2033 Price Multiple 1000
7.40% GS 2035 Sep 09, 2005 30-00-00 Sep 09, 2035 Price Multiple 1000
7.72% GS 2055 Oct 26, 2015 40-00-00 Oct 26, 2055 Price Multiple 2000

Subject to the limit of ₹ 15000 Cr, being total notified amount, GoI will have the option to retain additional subscription up to ₹ 1000 Cr against any of the above security. The sale will be subject to the terms and conditions spelt out in this notification (called ‘Specific Notification’). The Stock 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(13)–W&M/2008, dated October 8, 2008 issued by Government of India.

Allotment to Non-competitive Bidders
2. The Government Stock 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
3. The auction will be conducted by Reserve Bank of India, Mumbai Office, Fort, Mumbai-400 001 on December 08, 2017. Bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on December 08, 2017. The non-competitive bids should be submitted between 10.30 a.m. and 11.30 a.m. and the competitive bids should be submitted between 10.30 a.m. and 12.00 noon.

When Issued Trading
4. The Stock 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 stock
5. The result of the auction shall be displayed by the Reserve Bank of India at its Fort, Mumbai Office on December 08, 2017. The payment by successful bidders will be on December 11, 2017 i.e. the date of re-issue. The payment for the stocks will include accrued interest on the nominal value of the Stock 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.

Payment of Interest and Re-payment of Stock
6. Interest will accrue on the nominal value of the Stock from the date of original / last coupon payment and will be paid half yearly. The Stock will be repaid at par on date of maturity.

Name of the Security Coupon rate (%) Date of Original Issue / Last Coupon payment Date upto which accrued interest is due Date of Coupon payments (month / date)
6.84% GS 2022 6.84 Jun 19, 2017 December 10, 2017 Dec 19 and Jun 19
6.68% GS 2031 6.68 Sep 17, 2017 December 10, 2017 Mar 17 and Sep 17
6.57% GS 2033 6.57 Dec 05, 2017 December 10, 2017 Jun 05 and Dec 05
7.40% GS 2035 7.40 Sep 09, 2017 December 10, 2017 Mar 09 and Sep 09
7.72% GS 2055 7.72 Oct 26, 2017 December 10, 2017 Apr 26 and Oct 26

By Order of the President of India

(Prashant Goyal)
Joint Secretary to the Government of India


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