Government of India
Ministry of Finance
Department of Economic Affairs
New Delhi, dated December 05, 2016
Auction for Sale (Re-issue) of
6.84 per cent Government Stock 2022
F. No.4 (2) W&M/2016: Government of India hereby notifies sale
(re-issue) of ‘6.84 percent
Government Stock 2022’ (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.
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.
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
and date of auction
4. The auction will be conducted by Reserve Bank of India, Mumbai Office,
Fort, Mumbai-400 001 on December 09
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 09,
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 ‘6 years, 3
months and 7 days’ tenure
commencing from September 12,
2016. The Stock will be repaid at par on December 19, 2022.
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 December 09,
2016. The payment by successful bidders will be on December 13, 2016 i.e. the date of re- issue. The payment of the Stock will
include accrued interest on the nominal value of the Stock allotted in the
auction from the date of original issue payment i.e. September 12, 2016 to December 12,
8. Interest at the rate of 6.84 per cent per annum will accrue on the
nominal value of the Stock from the date of original issue i.e. September
12, 2016 to December 18, 2016 which will be paid on December 19, 2016 and
the interest thereafter will be payable half-yearly on June 19 and December 19.
By Order of the President of India
Secretary to the Government of India