The Ministry of Finance announced the sale of 2028 floating rate government bonds for ??4,000 crore (nominal) through price-based auctions using the uniform price method.
In addition, “6.10% government security 2031” and “6.95% government security 2061” will also be auctioned for ??13,000 crores and ??7,000 crore respectively
The government will have the option of keeping an additional subscription up to ??2,000 crore each for one or more titles. The auctions will be conducted by the Reserve Bank of India on December 31.
Up to 5% of the notified amount of the sale of securities will be allocated to eligible persons and institutions in accordance with the non-competitive bidding system within the framework of the auction of public securities, the ministry said in a statement. .
Competitive and non-competitive bids for the auction must be submitted electronically on the RBI Banking Solution System (E-Kuber) by December 31. Non-competitive offers must be submitted between 10:30 am and 11:00 am and competitive offers must be submitted between 10:30 am and 11:30 am.
The result of the auction will be announced on December 31, and payment by the successful bidders will be made on January 3, 2022.
The securities will be eligible to trade “once issued” in accordance with RBI guidelines.
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