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Government
of India
Ministry of Finance
Department of Economic Affairs
Budget Division
New
Delhi, dated January 09, 2017
NOTIFICATION
Auction
for Sale (Re-issue) of ‘7.06 per cent Government Stock, 2046’
F. No.4 (3)-W&M/2016(iii):
Government of India hereby notifies sale (reissue) of ‘7.06 per cent
Government Stock, 2046’ (hereinafter called 'the Stock') for an aggregate
amount of ? 2,000 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.
Method of
Issue
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 price based auction using multiple price auction method.
Allotment
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
Securities (Annex).
Place and
date of auction
4. The auction will be conducted by Reserve Bank of India, Mumbai Office,
Fort, Mumbai-400 001 on January
13, 2017. Bids for the auction should be
submitted in electronic format on the Reserve Bank of India Core Banking
Solution (E-Kuber) system on January
13, 2017. 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
5. The Stock will be eligible for “When Issued” trading in accordance with
the guidelines issued by the Reserve Bank of India.
Tenure
6. The Stock will be of thirty-year tenure commencing from October 10, 2016.
The Stock will be repaid at par on October
10, 2046.
Date of
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 January
13, 2017. The payment by successful
bidders will be on January 16,
2017, i.e., the date of re-issue. The
payment for the Stock will include accrued interest on the nominal value of
the Stock allotted in the auction from the date of original issue i.e., October 10, 2016 to January 15, 2017.
Interest
8. Interest at the rate of 7.06 per cent per annum will accrue on the nominal
value of the Stock from the date of original issue and will be paid half
yearly on April 10 and October 10.
By
Order of the President of India
(Prashant
Goyal)
Joint Secretary to the
Government of India
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