News Column

RBI-Government of India announce the sale of Four dated securities for '14,000 crore on August 8, 2014

August 5, 2014



ENP Newswire - 05 August 2014

Release date- 04082014 - Government of India announce the sale of Four dated securities for '14,000 crore on August 8, 2014.

The Governments of India have announced the sale (re-issue) of four dated securities as per the following details:

Sr No

Security

Notified Amount (' Cr)

Auction Date

Settlement date

1

8.35% Government Stock 2022

2,000

August 8, 2014 (Friday)

August 11, 2014 (Monday)

2

8.60% Government Stock 2028

7,000

3

9.20% Government Stock 2030

2,000

4.

8.30% Government Stock 2042

3,000

The auctions will be conducted using multiple price method. Up to 5% of the notified amount of the sale of the stocks 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 Reserve Bank of India Core Banking Solution (E-Kuber) system on August 8, 2014. The non-competitive bids should be submitted between 10.30 a.m. and 11.30 a.m. and the competitive bids should be submitted between 10.30 a.m. and 12.00 noon. The result of the auctions will be announced on August 8, 2014.

The stocks will qualify for the ready forward facility.

The underwriting of the Government Securities under auctions by the 'Primary Dealers' will be as per the 'Revised Scheme of Underwriting Commitment and Liquidity Support' announced by the Reserve Bank vide circular RBI/2007-08/186 dated November 14, 2007. Bids for underwriting of the Additional Competitive Underwriting (ACU) portion can be submitted by 'Primary Dealers' from 10:30 AM up to 12.00 noon on August 7, 2014 (Thursday) on the Reserve Bank of India Core Banking Solution (E-Kuber) system.

The Stocks will be eligible for 'When Issued' trading for a period commencing from August 5, 2014 - August 8, 2014 in accordance with the guidelines on 'When Issued transactions in Central Government Securities' issued by the Reserve Bank of India vide circular No. RBI /2006-07/178 dated November 16, 2006 as amended from time to time.

Ajit Prasad

Assistant General Manager


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: ENP Newswire


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters