The Government of India (GoI) has announced the sale (reissue) of (i) ‘GoI Floating Rate Bonds, 2028’ for a notified amount of ₹ 4,000 crore (nominal) through price-based auctions using the uniform price method; (ii) “6.10% Government Security, 2031” for a notified amount of 13,000 crore (nominal) through price-based auctions using the uniform price method and (iii) “6.76% Government Security 2061 ”For a notified amount of ₹ 7,000 crore (nominal) through price-based auctions using the multiple price method. GoI will be able to keep an additional subscription up to 2,000 crore each for one or more titles. The auction will be conducted by Reserve Bank of India, Mumbai office, Fort, Mumbai on Friday October 29, 2021.
Up to 5% of the notified amount of the sale of the Notes will be allocated to individuals and eligible institutions in accordance with the Non-Competitive Bidding System within the framework of the State Securities Auction.
Competitive and non-competitive bids for the auction must be submitted electronically on the Reserve Bank of India Core Banking Solution (E-Kuber) system on October 29, 2021. Non-competitive bids 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 October 29, 2021 (Friday) and payment by the successful bidders will be made on November 01, 2021 (Monday). PM Narendra Modi launches Ayushman Bharat health infrastructure mission in Varanasi.
The securities will be eligible for trading “when issued” in accordance with the Guidelines on “Central Government Securities at Issue Transactions” issued by the Reserve Bank of India in accordance with Circular No.RBI / 2018-19 / 25 of July 24, 2018 amended from time to time.
(The above story first appeared on LatestLY on October 25, 2021 at 6:31 p.m. IST. For more information and updates on Politics, World, Sports, Entertainment, and Lifestyle , connect to our website Latestly.com).