Ministry of Finance
Department of Economic Affairs
Delhi, dated April 28, 2017
for Sale (Re-issue) of 6.79% Government Stock 2029
F. No.4 (7) W&M/2017(i):
Government of India hereby notifies sale (re-issue) of 6.79 percent
Government Stock 2029 for an aggregate amount of ? 7,000 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 Securities
Place and date of auction
4. The auction will be conducted by Reserve Bank of India, Mumbai Office,
Fort, Mumbai-400 001 on May
5, 2017. Bids for the auction should be
submitted in electronic format on the Reserve Bank of India Core Banking
Solution (E-Kuber) system on May
5, 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 '13
year’ tenure commencing from December 26, 2016.
The Stock will be repaid at par on December
Date of issue and payment for the
7. The result of the auction shall be displayed by the Reserve Bank of India
at its Fort, Mumbai Office on May
5, 2017. The payment by successful
bidders will be on May 8, 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 December 26, 2016 to May 7, 2017.
8. Interest at the rate of 6.79 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 June 26, and December 26.
Order of the President of India
Joint Secretary to the Government