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

New Delhi, dated September 18, 2017

NOTIFICATION

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

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

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 September 22, 2017. Bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on September 22, 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 September 22, 2017. The payment by successful bidders will be on September 25, 2017 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 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 last coupon payment and will be paid half yearly. The Stock will be repaid at par on date of maturity.

By Order of the President of India

(Prashant Goyal)
Joint Secretary to the Government of India