Reserve Bank of India on Friday notified that Government of India (GoI) has announced the sale of five dated securities for Rs 12,000 crore.
Subject to the limit of Rs 12000 crore, being total notified amount, GoI will have the option to retain additional subscription up to Rs 1000 crore each against any one or more of the above security.
The auction will be conducted through multiple price method.
Up to 5 percent 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.
Competitive and non-competitive bids for the auction should be submitted through the electronic form on the Reserve Bank of India's Core Banking Solution system by May 04, 2018.
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.
The result of the auctions will be announced on May 04, 2018, it added.