|
Government of India have announced the sale (re-issue) of “7.55 per cent Government Stock, 2010” for a notified amount of Rs.6,000 crore through a price based auction using multiple price auction method. Government of India have also announced the sale (re-issue) of “7.50 per cent Government Stock, 2034” for a notified amount of Rs.2,000 crore through price based auction using multiple price auction method. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on May 3, 2005 (Tuesday).
Up to 5% of the notified amount of the sale of both the stocks will be allotted to eligible individuals and Institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.
Bids in the prescribed form obtainable from the Regional Director, Reserve Bank of India, Mumbai Office (Public Debt Office), Fort, Mumbai-400 001 should be submitted to that Office on May 3, 2005. The competitive bids by the NDS members should be submitted only in electronic format using NDS, while all the non-competitive bids should be submitted in the prescribed physical form. All bids should be submitted by 12.30 P.M.
The results of the auctions will be announced on May 3, 2005 and payment by successful bidders will be during banking hours on May 4, 2005 (Wednesday).
It may be recalled that as per the calendar for issuance of Government securities the notified amounts and the tenure of the securities for the auction scheduled during May 2-9, 2005 were Rs.6,000 crore for a security with 5 year to 9 years tenure and Rs.4,000 crore for a security with 20 year and above tenure. However, taking into account all relevant factors, Government of India have decided to issue the longer tenure security for a reduced notified amount of Rs. 2,000 crore instead of Rs.4,000 crore as was announced in the calendar.
BSC/BY/GN-205/05
|
