Ministry of Finance
Department of Economic Affairs
Delhi, dated July 17, 2017
for Sale (Re-issue) of 6.84 per cent Government Stock 2022
Government of India hereby notifies sale (re-issue) of ‘6.84 percent Government Stock 2022’ (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 July
21, 2017. Bids for the auction should be
submitted in electronic format on the Reserve Bank of India Core Banking
Solution (E-Kuber) system on July
21, 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 ‘6
years, 3 months and 7 days’ tenure
commencing from September
12, 2016. The Stock will be repaid at
par on December 19, 2022.
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 July
21, 2017. The payment by successful bidders
will be on July 24, 2017 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 last coupon payment i.e. June 19, 2017 to July 23, 2017.
8. Interest at the rate of 6.84 per cent per annum will accrue on the nominal
value of the Stock from date of last coupon payment and will be paid
half-yearly on December 19
and June 19.
Order of the President of India
Joint Secretary to the
Government of India