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Government
of India
Ministry of Finance
Department of Economic Affairs
Budget Division
New
Delhi, dated April 10, 2017
NOTIFICATION
Auction
for Sale (Re-issue) of 6.97 per cent Government Stock 2026
F. No.4 (7) W&M/2017(i):
Government of India hereby notifies sale (re-issue) of ‘6.97 percent Government Stock 2026’ (hereinafter called 'the Stock') for an aggregate
amount of ? 8,000 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 April
13, 2017. Bids for the auction should be
submitted in electronic format on the Reserve Bank of India Core Banking
Solution (E-Kuber) system on April
13, 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.
Tenure
6. The Government Stock will be of ten years tenure commencing from September 6, 2016.
The Stock will be repaid at par on September
6, 2026.
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 April
13, 2017. The payment by successful
bidders will be on April 17,
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. March 06, 2017 to April 16, 2017.
Interest
8. Interest at the rate of 6.97 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 September
06 and March 06.
By
Order of the President of India
(Prashant
Goyal)
Joint Secretary to the
Government of India
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