Ministry of Finance
Department of Economic Affairs
Delhi, dated August 14, 2017
for Sale (Re-issue) of 6.62 per cent Government Stock 2051
F. No.4 (2) W&M/2017(iii):
Government of India hereby notifies sale of 6.62 per cent Government Stock 2051 (hereinafter called “The Stock”) for an aggregate amount
of ? 3,000 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
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
Place and date of auction
4. The auction will be conducted by Reserve Bank of India, Mumbai Office,
Fort, Mumbai-400 001 on August
18, 2017. Bids for the auction should be
submitted in electronic format on the Reserve Bank of India Core Banking
Solution (E-Kuber) system on August
18, 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.
6. The Government Stock will be of ’35
year’ tenure commencing
from November 28, 2016. The Stock will be repaid at par on November 28, 2051.
Date of Issue and Payment for
7. The result of the auction shall be displayed by the Reserve Bank of
India at its Fort, Mumbai Office on August
18, 2017. The payment by successful
bidders will be on August 21,
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 last coupon
payment i.e. May 28, 2017 to August 20, 2017.
8. Interest at the rate of 6.62 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 on November
28 and May 28.
Order of the President of India
Joint Secretary to the
Government of India