Government of India
Ministry of Finance
Department of Economic Affairs
Delhi, dated December 19, 2016
Auction for Sale of New Government Stock of 13 Year
F. No.4 (3) W&M/2016(i):
Government of India hereby notifies sale of New Government Stock
(Securities) of ’13 year
tenure’ for an aggregate amount of ? 8,000 crore
(nominal). The sale will be subject to the terms and conditions spelt out
in this notification (called ‘Specific Notification’) as also 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.
2. The Stock will be sold through Reserve Bank of India, Mumbai Office,
Fort, Mumbai- 400 001 in the manner as prescribed in paragraph 5.1 of the
General Notification F. No. 4 (13)–W&M/2008, dated October 8, 2008 by
a yield based auction using
multiple price auction method.
to Non-competitive Bidders
3. 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
date of auction
4. The auction will be conducted by Reserve Bank of India, Mumbai Office,
Fort, Mumbai-400 001 on December
23, 2016. Bids for the auction should
be submitted in electronic format on the Reserve Bank of India Core
Banking Solution (E-Kuber) system on December 23, 2016. 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.
5. The Stock will be eligible for “When Issued” trading in accordance
with the guidelines issued by the Reserve Bank of India.
6. The Government Stock will be of ’13
year’ tenure commencing from December 26, 2016. The Stock will be repaid at par on December 26, 2029.
issue and payment for the stock
7. The result of the auction shall be displayed by the Reserve Bank of
India at its Fort, Mumbai Office on December 23, 2016. The payment by successful bidders will be on December 26, 2016 i.e. the date of issue.
8. 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 on June 26,
and December 26.
Order of the President of India
Joint Secretary to the
Government of India