The Government of India (GoI) has announced the Sale (Re-issue) of (i) ‘‘GoI Floating Rate Bonds, 2028’ for a notified amount of ₹4,000 crore (nominal) through price based auction using uniform price method; (ii) ‘6.10% Government Security, 2031’ for a notified amount of ₹13,000 crore (nominal) through price based auction using uniform price method and (iii) ‘6.76% Government Security 2061’ for a notified amount of ₹7,000 crore (nominal) through price based auction using multiple price method. GoI will have the option to retain additional subscription up to ₹2,000 crore each against one or more security/ies. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on Friday i.e. October 29, 2021.

Up to 5% 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 October 29, 2021. 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 October 29, 2021 (Friday) and payment by successful bidders will be on November 01, 2021 (Monday). PM Narendra Modi Launches Ayushman Bharat Health Infrastructure Mission in Varanasi.

The Securities will be eligible for “When Issued” trading in accordance with the guidelines on ‘When Issued transactions in Central Government Securities’ issued by the Reserve Bank of India vide circular No. RBI/2018-19/25 dated July 24, 2018 as amended from time to time.

(The above story first appeared on LatestLY on Oct 25, 2021 06:31 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).