The finance ministry today announced the sale of government bonds worth ₹30,000 cr in three different categories that will be put up for auction by the RBI’s Mumbai Office on Apr 12 (Friday).

The bonds include (i) 7.32% Government Security 2030 for a notified amount of ₹11,000 cr through price-based auction using price method, (ii) New Government Security 2039 worth ₹10,000 cr through yield-based auction using multiple price method, and (iii) 7.30% Government Security 2053 for an amount of ₹9,000 cr through price based auction using multiple price method.

The government will have the option to retain additional subscriptions up to ₹2,000 cr against each of these securities.

Up to 5% of the notified amount of the sale of the securities will be allotted to eligible individuals and institutions in accordance with 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 Apr 12.

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 Apr 12 and payment by successful bidders will be on Apr 15.

The securities will be eligible for “When Issued” trading in accordance with the guidelines on ‘When Issued transactions in Central Government Securities’ issued by RBI, the finance ministry added.

(Source: IANS)

- Edited for style

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