RBI

The Government of India has announced the sale (re-issue) of "<a href='/scripts/NotificationUser.aspx?Id=1320&Mode=0'>6.17 per cent Government Stock 2023</a>" for a notified amount of Rs.6,000 crore through a price based auction using multiple price auction method. The auction will be conducted by the Reserve Bank of India (RBI) at Mumbai on Wednesday, September 3, 2003. Up to 5 per cent of the notified amount of the sale of the stock will be allotted to eligible individuals and institutions 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 should be submitted to that Office on Wednesday, September 3, 2003. The competitive bids by the Negotiated Dealing System (NDS) members should be submitted only in electronic format using NDS, while all the non-competitive bids should be submitted in the prescribed physical form. All bids should be submitted by 12.30 p.m. On the basis of bids received, the Reserve Bank will determine the minimum price up to which offers will be accepted. The results of the auction will be announced on September 3, 2003 and payment by successful bidders will be during banking hours on September 4, 2003 (Thursday). This stock will qualify for the ready forward facility. Bids for underwriting of the Government Securities under auction can be submitted by the ‘Primary Dealers’ up to 12.30 p.m. on September 2, 2003 (Tuesday) to the Chief General Manager, Internal Debt Management Department, Reserve Bank of India, Central Office, Fort, Mumbai 400 001. It may be recalled that as per the calendar for issuance of Government securities the notified amounts and the tenure of the securities for the auction scheduled during September 1-7, 2003 were Rs. 5,000 crore for a security with 10 to 14 years tenure and Rs. 4,000 crore for a security with 15 to 20 years tenure. Taking into account all relevant factors, however, the Government of India has decided to (re)-issue only one security with the residual maturity of around 20-year for notified amount of Rs. 6,000 crore. Alpana Killawala General ManagerPress Release : 2003-2004/298

GoI to sell (re-issue) of 6.17% 2023 bonds through price based auction