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

New Delhi, dated October 5, 2015

NOTIFICATION

Auction for Sale of New Government Stock maturing on December 19, 2034

F. No.4 (2) W&M/2015(ii): Government of India hereby notifies sale of New Government Stock (Securities) of ‘19 years, 2 months and 07 days’ for an aggregate amount of ₹ 3,000 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 (13)–W&M/2008, dated October 8, 2008 issued by Government of India.

Method of Issue
2. The Stock will be sold through Reserve Bank of India, Mumbai Office, Fort, Mumbai- 400 001 in the manner as prescribed in paragraph 5.1 of the General Notification F. No. 4 (13)–W&M/2008, dated October 8, 2008 by a yield based auction using multiple price auction method.

Allotment to Non-competitive Bidders
3. 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
4. The auction will be conducted by Reserve Bank of India, Mumbai Office, Fort, Mumbai-400 001 on October 09, 2015. Bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on October 09, 2015. 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
5. The Stock will be eligible for “When Issued” trading in accordance with the guidelines issued by the Reserve Bank of India.

Tenure
6. The Government Stock will be of ‘19 years, 2 months and 07 days’ tenure commencing from October 12, 2015. The Stock will be repaid at par on December 19, 2034.

Date of issue and payment for the stock
7. The result of the auction shall be displayed by the Reserve Bank of India at its Fort, Mumbai Office on October 09, 2015. The payment by successful bidders will be on October 12, 2015 i.e. the date of issue.

Interest
8. The coupon rate for the securities will be set at the cut-off yield to maturity rate decided in the auction. The broken period interest from October 12, 2015 to December 18, 2015 will be paid on December 19, 2015 and the interest thereafter will be payable half-yearly on June 19 and December 19.

By Order of the President of India

(Prashant Goyal)
Joint Secretary to the Government of India