Government will sell four dated securities for Rs15,000 crore on Friday using multiple price method, the Reserve Bank of India said on Monday.
“Up to 5 per cent 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,” the Central Bank said.
Both competitive and non-competitive bids for the auction has to be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on July 15. The stocks will be eligible for 'When Issued' trading on July 12– July 15.
The result of the auctions will be announced on July 15, and payment by successful bidders will be on July 18. The securities to be sold are: 7.35 per cent Government Stock 2024 (Rs3,000 crore), 7.61 per cent Government Stock 2030 (Rs8,000 crore), 7.50 per cent Government Stock 2034 (Rs2,000 crore) and 8.17 per cent Government Stock 2044 (Rs2,000 crore).