Mumbai (13/06/2022): Government of India (GOI) has announced the sale (issue/re-issue) of four dated securities for a notified amount of ₹32,000 crore as per the following details:
| Sr No | Security | Date of Repayment | Notified Amount (₹ crore) |
GoI specific Notification | Auction Date |
Settlement Date |
| 1 | New GS 2027 | June 20, 2027 | 9,000 | F.No.4(3)-B(W&M)/2022 dated June 13, 2022 | June 17, 2022 (Friday) |
June 20, 2022 (Monday) |
| 2 | GOI FRB 2034* | Oct 30, 2034 | 4,000 | |||
| 3 | 7.54% GS 2036 | May 23, 2036 | 10,000 | |||
| 4 | 6.99% GS 2051 | Dec 15, 2051 | 9,000 | |||
| Total | 32,000 | |||||
| *The base rate for the coupon payment for the period from April 30, 2022 to October 29, 2022 for GOI FRB 2034 shall be 4.40 per cent per annum. | ||||||
2. GoI will have the option to retain additional subscription up to ₹2,000 crore against each security mentioned above.
3. The securities will be sold through Reserve Bank of India Mumbai Office, Fort, Mumbai – 400001. The sale will be subject to the terms and conditions spelt out in the ‘Specific Notification’ mentioned above and the General Notification F.No.4(2)–W&M/2018, dated March 27, 2018.
4. The auction will be conducted using uniform price method for New GS 2027, GOI FRB 2034, 7.54% GS 2036 and multiple price method for 6.99% GS 2051. Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on June 17, 2022 (Friday). The non-competitive bids should be submitted between 10.30 a.m. and 11.00 a.m. and the competitive bids should be submitted between 10.30 a.m. and 11.30 a.m. The result will be announced on the same day and payment by successful bidders will have to be made on June 20, 2022 (Monday).
5. Bids for underwriting of the Additional Competitive Underwriting (ACU) portion can be submitted by ‘Primary Dealers’ from 09.00 a.m. up to 09.30 a.m. on June 17, 2022 (Friday) on the Reserve Bank of India Core Banking Solution (E-Kuber) system.
6. The Stocks will be eligible for “When Issued” trading for a period commencing from June 14 – June 17, 2022.
7. Operational guidelines for Government of India dated securities auction and other details are given in the Annex.
