Government
of India
Ministry of Finance
Department of Economic Affairs
Budget Division
New
Delhi, dated July 31, 2017
NOTIFICATION
Auction
for Sale (Re-issue) of 7.72 per cent Government Stock 2055
F.
No.4 (7) W&M/2017(iii): Government of India hereby notifies sale of 7.72 per cent Government Stock 2055 (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 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 August
4, 2017. Bids for the auction should be
submitted in electronic format on the Reserve Bank of India Core Banking
Solution (E-Kuber) system on August
4, 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 ’40
year’ tenure commencing from October 26, 2015.
The Stock will be repaid at par on October
26, 2055.
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 August
4, 2017. The payment by successful
bidders will be on August 7,
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 26, 2017 to August 6, 2017.
Interest
8. Interest at the rate of 7.72 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 26 and April 26.
By
Order of the President of India
(Prashant
Goyal)
Joint Secretary to the Government
of India
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