Auction of Government of India Dated Securities

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Government of India (GOI) has announced the sale (re-issue) of four dated securities for a notified amount of ₹21,000 crore as per the following details:

Sr No Security Date of repayment Notified Amount
(₹ crore)
GoI specific Notification Auction Date Settlement date
1 4.48% GS 2023 November 02, 2023 6,000 F.No.4(5) W&M/2020 dated January 25, 2021 January 29, 2021
February 01, 2021
2 GOI FRB 2033* September 22, 2033 2,000
3 6.22% GS 2035 March 16, 2035 8,000
4 6.67% GS 2050 December 17, 2050 5,000
Total 21,000
*The base rate for the coupon payment for the period ending March 21, 2021 shall be 3.48 per cent per annum.

2. GOI will have the option to retain additional subscription up to ₹2000 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. 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 January 29, 2021. 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 February 01, 2021 (Monday).

5. Bids for underwriting of the Additional Competitive Underwriting (ACU) portion can be submitted by ‘Primary Dealers’ from 9.00 a.m. up to 9.30 a.m. on January 29, 2021 (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 January 27 – January 29, 2021.

7. Operational guidelines for Government of India dated securities auction and other details are given in the Annex.

Ajit Prasad

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