Ministry of Finance
Department of Economic Affairs
Delhi, dated April 24, 2017
for Sale (Re-issue) of ‘7.06 per cent Government Stock, 2046’
F. No.4 (7)-W&M/2017(iii):
Government of India hereby notifies sale (reissue) of ‘7.06 per cent Government Stock, 2046’ (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 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 28, 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 28, 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
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 Stock will be of thirty-year tenure commencing from October 10, 2016.
The Stock will be repaid at par on October
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 April 28, 2017.
The payment by successful bidders will be on May 2, 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. April 10, 2017 to May 1, 2017.
8. Interest at the rate of 7.06 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 October 10 and April 10.
Order of the President of India
Joint Secretary to the Government