New Delhi, Apr 8 (Agency) The Government of India (GoI) on Monday announced the sale (issue/ re-issue) of securities raising Rs 20,000 crore in three different series through auction with an option to retain up to Rs 2000 crore additional subscription against each security. These auctions will be conducted by the Reserve Bank of India on April 12, 2024, the Ministry of Finance said in a release here. The securities are –(i) “7.32 percent Government Security 2030” for a notified amount of Rs 11,000 crore (nominal) through price based auction using multiple price method, (ii) “New Government Security 2039” for a notified amount of Rs 10,000 crore (nominal) through yield based auction using multiple price method, and (iii) “7.30 percent Government Security 2053” for a notified amount of Rs 9,000 crore (nominal) through price based auction using multiple price method.
GoI will have the option to retain additional subscription up to Rs 2,000 crore against each security mentioned above, the Ministry said. Up to 5 percent 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 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, 2024 (Friday) and payment by successful bidders will be on April 15, 2024.