GoI to sell three government securities worth Rs. 31,000 crore through auctions conducted by RBI on April 28, 2023.
The Government of India (GoI) has announced the sale of three government securities worth Rs. 31,000 crore through auctions conducted by the Reserve Bank of India (RBI) on April 28, 2023.
1. Details of the Government Securities The Government of India (GoI) has announced the sale (re-issue) of three Government Securities. The first one is “7.17% Government Security 2030” for ₹7,000 crore (nominal) through price based auction using uniform price method. The second one is “7.41% Government Security 2036” for ₹12,000 crore (nominal) through price based auction using uniform price method. The third one is “7.40% Government Security 2062” for ₹12,000 crore (nominal) through price based auction using multiple price method. GoI will have the option to retain additional subscription up to Rs. 2,000 crore against each security mentioned above. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on April 28, 2023.
2. Eligibility and Bidding Up to 5% of the notified amount of the sale of the securities will be allotted to eligible individuals and institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities. Both competitive and non-competitive 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, 2023. The non-competitive bids should be submitted between 10:30 a.m. and 11:00 a.m. and the competitive bids should be submitted between 10:30 a.m. and 11:30 a.m.
3. Auction Result and Payment The result of the auctions will be announced on April 28, 2023, and payment by successful bidders will be on May 02, 2023. The Securities will be eligible for “When Issued” trading in accordance with the guidelines on ‘When Issued transactions in Central Government Securities’ issued by the Reserve Bank of India.
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