The Government of India (GoI) has announced the re-issue and auction of two Government Securities (G-Secs):
- 7.10% GS 2034: Offered for a notified amount of ₹20,000 crore (nominal)
- 7.46% GS 2073: Offered for a notified amount of ₹12,000 crore (nominal)
Auction Details:
- Auction Type: Price-based auction using the multiple price method
- Date: Friday, April 26, 2024
- Venue: Reserve Bank of India, Mumbai Office
- Eligible Bidders: Individuals, institutions (competitive and non-competitive bids)
Key Points:
- The GoI can retain an additional subscription of up to ₹2,000 crore for each security.
- Up to 5% of the notified amount is reserved for non-competitive bids.
- Electronic bids can be submitted via the RBI Core Banking Solution (E-Kuber) system.
- Non-competitive bids: April 26, 2024 (between 10:30 AM and 11:00 AM)
- Competitive bids: April 26, 2024 (between 10:30 AM and 11:30 AM)
- Auction results will be announced on April 26, 2024.
- Payment by successful bidders is due on April 29, 2024.
- “When Issued” trading is permitted as per RBI guidelines.
Additional Information:
- Investors interested in participating in the auction should consult with authorized financial institutions and familiarize themselves with the detailed auction rules set by the Reserve Bank of India.
- This re-issue of G-Secs provides an opportunity for individuals and institutions to invest in government debt and potentially earn attractive returns.
This auction is a significant event for the Indian financial market, and participation can be a valuable way to diversify investment portfolios.
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