New Delhi: The Finance Ministry on Monday announced the sale of government bonds worth Rs 30,000 crore in three different categories that will be put up for auction by the RBI’s Mumbai Office on April 12 (Friday).
The bonds include 7.32 per cent Government Security 2030 for a notified amount of Rs 11,000 crore through price-based auction using price method, (ii) New Government Security 2039 worth Rs 10,000 crore through yield-based auction using multiple price method, and (iii) 7.30 per cent Government Security 2053 for an amount of Rs 9,000 crore through price based auction using multiple price method.
The government will have the option to retain additional subscriptions up to Rs 2,000 crore against each of these securities.
Up to 5 per cent of the notified amount of the sale of the securities will be allotted to eligible individuals and institutions in accordance with 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 Reserve Bank of India Core Banking Solution (E-Kuber) system on April 12, 2024. 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 April 12 and payment by successful bidders will be on April 15.
The securities will be eligible for “When Issued” trading in accordance with the guidelines on ‘When Issued transactions in Central Government Securities’ issued by RBI, the Finance Ministry added.
(IANS)