New Delhi, Jan 8 (SocialNews.XYZ) The Finance Ministry on Monday announced the sale of three categories of government bonds worth a total of Rs 33,000 crore at an RBI auction scheduled for January 12.
These comprise "7.37 per cent Government Security 2028" for a notified amount of Rs 7,000 crore through a price based auction using the uniform price method, a "7.18 per cent Government Security 2033" for a notified amount of Rs 16,000 crore also through a price based auction using the uniform price method and a "7.30 per cent Government Security 2053" for a notified amount of Rs 10,000 crore through price based auction using the multiple price method.
The government will have the option to retain additional subscription up to Rs 2,000 crore against each security mentioned above.
The auctions will be conducted by the Reserve Bank of India on Friday.
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 Reserve Bank of India Core Banking Solution (E-Kuber) system on January 12, 2024. The non-competitive bids should be submitted between 10.30 a.m. and 11 a.m. and the competitive bids should be submitted between 10.30 a.m. and 11.30 a.m.," according to the official statement.
The result of the auctions will be announced on January 12 day and payment by successful bidders will be on January 15.
The Securities will be eligible for "When Issued" trading in accordance with the RBI guidelines on 'When Issued transactions in Central Government Securities'.
Source: IANS
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