GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(Department of Economic Affairs)
(Budget Division)

New Delhi, the May 15,2001

 

NOTIFICATION

 

Auction for Sale (Re-issue ) of '10.47 per cent Government Stock, 2015'

 

No.4(7)-W&M/2001 : Government of India hereby notifies sale (reissue) of '10.47 per cent Government Stock, 2015' for an aggregate amount of Rs. 4000 crore (nominal). The sale will be subject to the terms and conditions spelt out in this notification (called 'Specific Notification') as also the terms and conditions specified in the General Notification F No.4(2)W&M/97,dated 1^st April,1997 issued by Government of India as amended by Notification F.No. 4(7) W&M/99, dated 5^th April,1999.

 

Method of Issue

2 The Government Stock will be sold through Reserve Bank of India, Fort, Mumbai- 400 001 by a price based auction.

Place and date of auction

3. The auction will be conducted by Reserve Bank of India, Fort, Mumbai-400 001 on May 17, 2001 The application form duly filled in with the bids should be submitted to the aforesaid office on May 17, 2001, before the close of banking hours.

Tenure

4. The Stock will be of fourteen year tenure. The tenure of the Government Stock will commence from February 12, 2001. The stock will be repaid at par on February 12, 2015.

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 May 17, 2001. The payment by successful bidders will be on May 18,2001. i.e. the date of issue. The payment for the Stock will include accrued interest on the nominal value of the Stock applied for from the date of commencement of tenure of the Stock i.e. February 12, 2001.

Interest

6. Interest at the rate of 10.47 per cent per annum will accrue on the nominal value of the Stock from the date of commencement of tenure of the Stock and will be paid half yearly on August 12 and February 12.

 

By Order of the President of India

 

Sd/-
(D.Swarup)
Joint Secretary (Budget)