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RBI to auction govt securities worth Rs 15,000 cr on Aug 8

By Religare
RBI to auction govt securities worth Rs 15,000 cr on Aug 8
Government of India will sale (re-issue/issue) four dated securities for Rs 15,000 crore on August 08, 2013. The auctions, which will be conducted using uniform price method, will be executed by the Reserve Bank of India.

Government of India will sell "8.12 percent Government Stock 2020" for a notified amount of Rs.3,000 crore, "8.33 percent Government Stock 2026" for Rs.6,000 crore, "8.32 percent Government Stock 2032" for Rs.3,000 crore, and "8.30 percent Government Stock 2042" for Rs.3,000 crore.

The Central Bank in a release said that up to 5 per cent 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.

The bidders for both competitive and non-competitive bids for the auction are required to submit in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on August 8, 2013.

Besides, the result of the auctions will be announced on August 8, 2013 and payment by successful bidders will be on August 12, 2013 (Monday), it added.

Dion Global Solutions Ltd.

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