Government
of India
Ministry of Finance
Department of Economic Affairs
Budget Division
New
Delhi, dated April 02, 2018
NOTIFICATION
Auction
for Sale (Issue/Re-issue) of Government Stock (GS)
F.No.4(7)W&M/2018:Government
of India(GoI) hereby notifies sale(issue/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)
|
NI GS 2020
|
Apr 09, 2018
|
02-00-00
|
Apr 09, 2020
|
Yield
|
Multiple
|
2000
|
GOI FRB 2024
|
Nov 07, 2016
|
08-00-00
|
Nov 07, 2024
|
Price
|
Multiple
|
3000
|
7.17% GS 2028
|
Jan. 08, 2018
|
10-00-00
|
Jan. 08, 2028
|
Price
|
Multiple
|
3000
|
6.57% GS 2033
|
Dec 05, 2016
|
17-00-00
|
Dec. 05, 2033
|
Price
|
Multiple
|
1000
|
6.62% GS 2051
|
Nov. 28, 2016
|
35-00-00
|
Nov. 28, 2051
|
Price
|
Multiple
|
3000
|
Subject to the limit of Rs 12000
Cr, being total notified amount, GoI will have the option to retain
additional subscription up to Rs 1000 Cr each against any one or more 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 April
06, 2018. Bids for the auction should be
submitted in electronic format on the Reserve Bank of India Core Banking
Solution (E-Kuber) system on April
06, 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.
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 April
06, 2018. The payment by successful bidders
will be on April 09, 2018 i.e. the date of issue/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 issue / 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 Last Coupon payment
|
Date
upto which accrued interest is due
|
Date
of Coupon payments
(month / date)
|
New GS of 2 year
|
Yield Based#
|
New Stock
|
New Stock
|
Oct 09 and Apr 09
|
GoI FRB 2024*
|
Variable*
|
Nov 07, 2017
|
January 28, 2018
|
May 07 and Nov 07
|
7.17% GS 2028
|
7.17
|
New Stock
|
Jan 08 to Jan 28, 2018
|
July 08 and Jan 08
|
6.57% GS 2033
|
6.57
|
Dec 05, 2017
|
December 31, 2017
|
Jun 05 and Dec 05
|
6.62% GS 2051
|
6.62
|
Nov 28, 2017
|
December 25, 2017
|
May 28 and Nov 28
|
* GoI FRB 2024*
|
(i) The interest at a variable
rate will be paid every half-yearly.
(ii) The variable coupon rate
for payment of interest on subsequent semi-annual period shall be the
average rate rounded off up to two decimal places, of the implicit yields at the cut-off prices of the last
three auctions of Government of India 182 day Treasury Bills, held up to
the commencement of the respective semi-annual coupon period. The implicit yields will be computed by reckoning
365 days in a year.
(iii) In the event of Government
of India 182-day Treasury Bill auctions being discontinued during the
currency of the Bonds, the coupon rate will be the average of Yield to
Maturity (YTM) rates prevailing for six month Government of India
Security/ies as on the last three non-reporting Fridays prior to the
commencement of the semi-annual coupon period. In case particular Friday/s
is/are holiday/s, the yield to maturity rates as on the previous working
day shall be taken.
(iv) The rate of interest
payable half yearly on the Bonds during the subsequent years shall be
announced by the Reserve Bank of India before the commencement of the
relative semi-annual coupon period.
# The coupon rate for the
securities will be set at the cut-off yield to maturity rate decided in the
auction. The interest will be payable half-yearly.
By
Order of the President of India
(Prashant
Goyal)
Joint Secretary to the
Government of India
|