Auction of Government of India Dated Securities - આરબીઆઈ - Reserve Bank of India
Auction of Government of India Dated Securities
Ref.No.IDMD / 1761 /08.02.033/2009-10 October 16, 2009 All Scheduled Commercial Banks excluding RRBs/ Dear Sirs, Auction of Government of India Dated Securities Government of India have offered to sell (re-issue) of (a) “7.02 percent Government Stock 2016 ” for a notified amount of Rs.3,000 crore (nominal) through a price based auction using uniform price method vide Notification No.4(1)-W&M/2009 dated October 16, 2009, (b) “6.90 percent Government Stock 2019” for a notified amount of Rs.4,000 crore (nominal) through a price based auction using uniform price method vide Notification No.4(1)-W&M/2009(i) dated October 16, 2009 and (c) “8.28 percent Government Stock 2032” for a notified amount of Rs. 3,000 crore (nominal) through a price based auction using uniform price method vide Notification No.4(1)-W&M/2009(ii) dated October 16, 2009. The Reserve Bank of India at Mumbai will conduct the auctions on October 23, 2009. The salient features of the auctions and the terms and conditions governing the issue of the Stocks are given in the Notifications (copies enclosed), which should be read along with the General Notification F. No. 4 (13)–W&M/2008, dated October 8, 2008 issued by Government of India. (i) The Stocks will be issued for a minimum amount of Rs.10,000/- (nominal) and in multiples of Rs.10,000/- thereafter. (iii) Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Negotiated Dealing System (NDS) on October 23, 2009. Bids in physical form will not be accepted except in extraordinary circumstances such as general failure of the NDS system. 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 12.30 p.m. (iv) An investor can submit more than one competitive bids at different prices in electronic format on the Negotiated Dealing System (NDS). However, the aggregate amount of bids submitted by a person in an auction should not exceed the notified amount of auction. (vi) The result of the auctions will be announced on October 23, 2009 and payment by successful bidders will be on October 26, 2009 (Monday). (viii) The Government Stocks will be repaid at par on August 17, 2016, July 13, 2019 and February 15, 2032, respectively. (x) The Stock will be eligible for “When Issued” trading during the period October 20-23, 2009 in accordance with the guidelines on ‘When Issued’ transactions in Central Government Securities’ issued by the Reserve Bank of India vide circular No. RBI /2006-07/178 dated November 16, 2006 as amended from time to time.
Yours faithfully,
(Rajendra Kumar) Encls: As above |