New Delhi: The Finance Ministry on Monday announced the sale of Government bonds valued at Rs 34,000 crore through an auction to be conducted by the Reserve Bank of India (RBI) on Friday, January 5.
The first set will be “7.32 per cent Government Security 2030” for a notified amount of Rs 12,000 crore (nominal) through price based auction using uniform price method, the Finance Ministry said.
The second will comprise “7.18 per cent Government Security 2037” for a notified amount of Rs 10,000 crore (nominal) through price based auction using uniform price method and the third set will be “7.25 per cent Government Security 2063” for a notified amount of Rs 12,000 crore (nominal) through price based auction using multiple price method, it added.
The government will have the option to retain additional subscription up to Rs 2,000 crore against each security.
Up to 5 per cent of the notified amount of the sale of the securities will be allotted to eligible individuals and institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.
Both competitive and non-competitive bids for the auction should be submitted in electronic format on the RBI Core Banking Solution (E-Kuber) system on January 5. 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 of the auctions will be announced on January 5 and payment by successful bidders will be on January 8.
(IANS)
