Auction for Sale (Re-issue) of (i) ‘GoI Floating Rate Bond 2028’,(ii)‘6.10% GS 2031’, and (iii) ‘6.95%GS 2061’

The Government of India (GoI) has announced the re-issue (sale) of

(i) “GoI Floating Rate Bonds, 2028′ for a notified amount of Rs.4,000 crore (nominal) via price based auction using uniform price method; (ii) ‘6.10 percent Government Security, 2031’ for a notified amount of Rs.13,000 crore (nominal) via price based auction using uniform price method; and (iii) ‘6.95 percent Government Security 2061’ for a notified amount of Rs.7,000 crore (nominal) via price. The Government of India would be able to retain additional subscriptions of up to Rs.2,000 crore a piece against one or more securities. The auctions will be held on Friday, December 3, 2021, by the Reserve Bank of India, Mumbai Office, Fort, Mumbai.

According to the Scheme for Non-Competitive Bidding Facility in Government Securities Auction, up to 5% of the notified amount of the sale of the Securities would be given to qualifying people and institutions.

Bids for the auction, both competitive and non-competitive, must be filed in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system by December 3, 2021. Non-competitive bids must be received between 10.30 a.m. and 11.00 a.m., while competitive bids must be received between 10.30 a.m. and 11.30 a.m.

The auction results will be revealed on December 3, 2021 (Friday), and winning bidders will be paid on December 6, 2021. (Monday).

The Securities shall be eligible for “When Announced” trading in accordance with the Reserve Bank of India’s instructions on “When Issued transactions in Central Government Securities,” as issued in circular No. RBI/2018-19/25 dated July 24, 2018, as revised from time to time.

To Read the Notification Download PDF Given Below :