Ministry of Finance
Department of Economic Affairs
Delhi, dated December 19, 2016
for Sale (Re-issue) of 7.72 Percent Government Stock 2055
F. No.4 (3) W&M/2016(iii):
Government of India hereby notifies sale (re-issue) 7.72 percent Government
Stock 2055 of 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.
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 December
23, 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
23, 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.
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 ’40
year’ tenure commencing from October 26, 2015.
The Stock will be repaid at par on October
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 December
23, 2016. The payment by successful
bidders will be on December
26, 2016 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. October 26, 2016 to December 25, 2016.
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 last coupon payment and will be paid
half-yearly on April 26
and October 26.
Order of the President of India
Joint Secretary to the
Government of India