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Government
of India
Ministry of Finance
Department of Economic Affairs
Budget Division
New
Delhi, dated October 17, 2016
NOTIFICATION
Auction
for Sale (Re-issue) of ‘7.50 per cent Government Stock, 2034'
F. No.4 (3)-W&M/2016(ii) :
Government of India hereby notifies sale (reissue) of ‘7.50 per cent
Government Stock, 2034’ (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 October
21, 2016. Bids for the auction should be
submitted in electronic format on the Reserve Bank of India Core Banking
Solution (E-Kuber) system on October
21, 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.
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 August 10, 2004.
The Stock will be repaid at par on August
10, 2034.
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 October
21, 2016. The payment by successful
bidders will be on October 24,
2016, 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 last coupon payment i.e., August 10, 2016 to October 23, 2016.
Interest
8. Interest at the rate of 7.50 per cent per annum will accrue on the nominal value
of the Stock from the date of last coupon payment and will be paid half
yearly onFebruary 10 and August 10.
By
Order of the President of India
(Prashant
Goyal)
Joint Secretary to the Government
of India
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