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Auction for Sale (Issue/re-issue) of Government Stock (GS)

Government of India
Ministry of Finance
Department of Economic Affairs
Budget Division

New Delhi, dated May 13, 2019

NOTIFICATION

Auction for Sale (Issue/re-issue) of Government Stock (GS)

F.No.4(6)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 Rs Crore)

7.00% GS 2021

Jan 21, 2019

02-00-00

Jan 21, 2021

Price

Multiple

3,000

7.27% GS 2026

Apr 8, 2019

07-00-00

Apr 8, 2026

Price

Multiple

3,000

New GS 2033

New Stock

14-00-27

Jun 17, 2033

Yield

Multiple

5,000

7.62% GS 2039

Apr 8, 2019

20-05-07

Sep 15, 2039

Price

Multiple

2,000

7.63% GS 2059

May 6, 2019

40-01-11

Jun 17, 2059

Price

Multiple

4,000

Subject to the limit of ?17000 Cr, being total notified amount, GoI will have the option to retain additional subscription up to ?1000 Cr each against any one or more of the above securities. 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(2)–W&M/2018, dated March 27, 2018 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 
May 17, 2019. Bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on May 17, 2019. The non-competitive bids should be submitted between 11.30 a.m. and 12.00 noon and the competitive bids should be submitted between 11.30 a.m. and 12.30 pm.

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 
May 17, 2019. The payment by successful bidders will be on May 20, 2019 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)

7.00% GS 2021

7.00

New Stock

May 19, 2019

Jul 21 and Jan 21

7.27% GS 2026

7.27

New Stock

May 19, 2019

Oct 8 and Apr 8

New GS 2033

Yield Based #

New Stock

New stock

Jun 17 and Dec 17

7.62% GS 2039

7.62

New Stock

May 19, 2019

Sep 15 and Mar 15

7.63% GS 2059

7.63

New Stock

May 19, 2019

Jun 17 and Dec 17

# 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

(Arvind Shrivastava)
Joint Secretary to the Government of India

 

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