On Monday the Ministry of Finance averred that the Government of India has proclaimed the Sale (Re-issue) government securities. It added that around 5% of the notified sale amount will be deployed for individuals and organizations based on the scheme for non-competitive bidding.
The government Securities will be eligible for “When Issued“ trading purposes aligned with the guideline on ‘When Issued transactions in Central Government Securities’ stamped by the Reserve Bank of India with circular No. RBI/2018-19/25 dated July 24, 2018 amended with time, the ministry added.
The notification featured that the government have announced re-sale of the following-
(i) “7.38% Government Security 2027“ for the notified amount of ₹7,000 crore (nominal) via., price based auction equipped with the uniform price method
(ii) “7.26% Government Security 2032“ for the notified amount of ₹12,000 crore (nominal) via., price based auction equipped with uniform price method
(iii) “7.36% Government Security 2052“ for the notified amount of ₹9,000 crore (nominal) via., price based auction equipped with multiple price method.
“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 23 December, 2022. 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 ministry said.
The result will released on 23 December, 2022 (Friday) while the payment by successful bidders will be made on 26 December, 2022 (Monday).