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Government of India have announced the sale (re-issue) of “11.90 per cent Government Stock, 2007” under Market Stabilisation Scheme for a notified amount of Rs.6,000 crore(nominal). The Government Stock will be sold through price based auction using multiple price method. The auction will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on August 25, 2005 (Thursday).
Up to 5% of the amount notified for the sale of Stock is reserved for allotment to eligible individuals and Institutions on non-competitive basis 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 and RBI website www.rbi.org.in should be submitted to that Office on August 25, 2005. The NDS members should submit competitive as well as non-competitive bids in electronic format using Primary Market Operation (PMO) module of NDS. All bids should be submitted by 12.30 P.M.
The result of the auction will be announced on August 25, 2005 and payment by successful bidders will be during banking hours on August 26, 2005 (Friday).
It may be recalled that as per the Indicative Schedule for Issuance of Treasury Bill/dated securities under MSS covering the period July 1, 2005 to September 30, 2005, no auction of dated securities was scheduled on August 25, 2005. However, taking into account all the relevant factors, it has been decided to issue ‘11.90 per cent Government Stock, 2007’ for Rs.6,000 crore outside the Indicative Calendar.
Department of Economic Affairs, Ministry of Finance New Delhi: Bhadrapada 1, 1927; August 23, 2005
BSC/BY/GN-318/05
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