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Auction for Sale (Re-issue) of Government Stock (GS)

Government of India
Ministry of Finance
Department of Economic Affairs
Budget Division

New Delhi, dated December 22, 2017

NOTIFICATION

Auction for Sale (Re-issue) of Government Stock (GS)

F.No.4(7)W&M/2017:Government of India(GoI) hereby notifies sale(re-issue) of the following Government Stocks:

Name of the Security

Date of Original Issue

Tenure
(yy-mm-dd)

Date of Maturity

Base

Method

Notified Amount
(in ? Crore)

6.84% GS 2022

Sep 12, 2016

06-03-07

Dec 19, 2022

Price

Multiple

3000

6.68% GS 2031

Sep 04, 2017

14-00-13

Sep 17, 2031

Price

Multiple

8000

6.57% GS 2033

Dec 05, 2016

17-00-00

Dec. 05, 2033

Price

Multiple

2000

7.06% GS 2046

Oct 10, 2016

30-00-00

Oct 10, 2046

Price

Multiple

2000

Subject to the limit of ? 15000 Cr, being total notified amount, GoI will have the option to retain additional subscription up to ? 1000 Cr against any of the above security. The sale will be subject to the terms and conditions spelt out in this notification (called ‘Specific Notification’). The Stock will be sold through Reserve Bank of India, Mumbai Office, Fort, Mumbai- 400 001 as per 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.

Allotment to Non-competitive Bidders
2. 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
3. The auction will be conducted by Reserve Bank of India, Mumbai Office, Fort, Mumbai-400 001 on 
December 29, 2017. Bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on December 29, 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
4. The Stock will be eligible for “When Issued” trading in accordance with the guidelines issued by the Reserve Bank of India.

Date of issue and payment for the stock
5. The result of the auction shall be displayed by the Reserve Bank of India at its Fort, Mumbai Office on 
December 29, 2017. The payment by successful bidders will be on January 01, 2018 i.e. the date of re-issue. The payment for the stocks will include accrued interest on the nominal value of the Stock allotted in the auction from the date of original issue / last coupon payment date to the date upto which accrued interest is due as mentioned in the table in para 6.

Payment of Interest and Re-payment of Stock
6. Interest will accrue on the nominal value of the Stock from the date of original / last coupon payment and will be paid half yearly. The Stock will be repaid at par on date of maturity.

Name of the Security

Coupon rate (%)

Date of Original Issue / Last Coupon payment

Date upto which accrued interest is due

Date of Coupon payments (month / date)

6.84% GS 2022

6.84

Dec 19, 2017

December 31, 2017

Jun 19 and Dec 19

6.68% GS 2031

6.68

Sep 17, 2017

December 31, 2017

Mar 17 and Sep 17

6.57% GS 2033

6.57

Dec 05, 2017

December 31, 2017

Jun 05 and Dec 05

7.06% GS 2046

7.06

Oct 10, 2017

December 31, 2017

Apr 10 and Oct 10

By Order of the President of India

(Prashant Goyal)
Joint Secretary to the Government of India

 

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