Auction for Sale (re-issue) of (i) ‘7.06% GS 2028’, (ii) ‘7.26% GS 2033’ and (iii) ‘7.30% GS 2053’
The Government of India (GoI) has announced the sale (reissue) of (i) “7.06% Government Security 2028” for a notified amount of Rs. 8,000 crores (nominal) by price-based auction using uniform price method, (ii) “7.26% Government Security 2033” for a notified amount of Rs. 14,000 crores (nominal) by price-based auction using uniform price method and (iii) “7.30% Government Security 2053” for a notified amount of Rs. 11,000 crores (nominal) by price-based auction using multiple prices method. GoI will have the option to maintain an additional subscription up to Rs. 2,000 crore against each of the above securities. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on 14 July 2023 (Friday).
Up to 5% of the notified sale amount of the bonds will be allocated to individuals and institutions entitled under the Scheme for Non-competitive Bidding Facility in the Government Bond Auction.
Both competitive and non-competitive bids for the auction must be submitted electronically on the Reserve Bank of India Core Banking Solution (E-Kuber) system on 14 July 2023. Non-competitive bids must be submitted between 10:30 and 11:00 and competitive offers must be submitted between 10:30 and 11:30.
The result of the auctions will be announced on July 14, 2023 (Friday) and payment by successful bidders will take place on July 17, 2023 (Monday).
The Securities will be eligible for trading “When Issued” in accordance with the guidelines on “Transactions When Issued in Central Government Securities” issued by the Reserve Bank of India in its circular no. RBI/2018-19/25 of 24 July 2018 as amended from time to time.
****
PPG/KMN
Observer Voice is the one stop site for National, International news, Editor’s Choice, Art/culture contents, Quotes and much more. We also cover historical contents. Historical contents includes World History, Indian History, and what happened today. The website also covers Entertainment across the India and World.