(Namita Pradhan, Intern Journalist) Delhi: The Indian government announced the Sale(Re-issue) of government stock of (i) 5.22%, 2025 for a notified range of Rs 12,000 crore through the price based auction. (ii) The government stock of 6.19%, 2034 a notified amount of Rs 11, 000 crores through the price base auction. (iii) The Government stock of 7.16 %,2050 a notified amount of Rs 7,000 crore through price based auction. The government has the option of retaining the additional subscription up to Rs 2,000 crore against the securities above mentioned. The auction will be conducted by the Reserve bank Of India, Mumbai through the method of multiple prices on 21st August 2020.
The notified amount of 5% is to be allotted for the eligible individuals and institutions scheme for the Non-Competitive Bidding facility of the securities of Government auction.
Both the competitive and noncompetitive bids as the auction should be submitted in the format of electronic on the Reserve Bank of India core Banking Solution (E-Kuber) system on August 21, 2020 (Friday) and bidders payment by successful on the 24th August 2020 (Monday).
The stocks are eligible for “when-issued” trading according to the guidelines on “when-issued” the transactions by Central Government Securities” which was issued by the Reserve Bank of India.
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