Monday, April 7, 2008

Sale (re issue) of “6.57 percent government stock 2011”

by Jo Black

Indian federal government have announced the sale (re-issue) of “6.57 percent Government Stock, 2011″ under Market Stabilization Scheme for a notified amount of Rs. 5,000 crore (nominal). The Government Stock will be sold through price based auction using multiple price method. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on April 10, 2008.

2. Up to 5 per cent of the amount notified for the sale of stock is reserved for allotment to eligible individuals and Institutions on non- competitive basis as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.

3.Bids in the prescribed form obtainable from the Regional Director, Reserve Bank of India, Mumbai Office (Public Debt Office), Fort, Mumbai-400 001 and RBI website www.rbi.org.in should be submitted to that Office on April 10, 2008. The NDS members should submit competitive as well as non-competitive bids in electronic format using Primary Market Operation (PMO) module of NDS. All bids should be submitted by 12.30 P.M.

4. The result of the auctions will be announced on April 10, 2008 and payment by successful bidders will be during banking hours on April 11, 2008.

 

 

 

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