Auction for sale (re-issue) of govt securities: Here’s what you need to knowPersonal FinanceAuction for sale (re-issue) of govt securities: Here’s what you need to know

Auction for sale (re-issue) of govt securities: Here’s what you need to know


NEW DELHI : The Ministry of Finance today said in a statement that the government has announced the sale (re-issue) of government securities.

The ministry said that 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.

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 ministry said.

The notification said that the government has announced the sale (re-issue) of –

(i) “6.99% Government Security 2026″ for a notified amount of 8,000 crore (nominal) through price based auction using uniform price method

(ii) “7.17% Government Security 2030″ for a notified amount of 7,000 crore (nominal) through price based auction using uniform price method

(iii) “7.41% Government Security 2036″ for a notified amount of 12,000 crore (nominal) through price based auction using uniform price method

(iv) “7.40% Government Security 2062″ for a notified amount of 12,000 crore (nominal) through price based auction using multiple price method

The government will have the option to retain additional subscription up to 2,000 crore against each security mentioned above. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on 12 May, 2023 (Friday).

“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 May 12, 2023. 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 of the auctions will be announced on 12 May, 2023 (Friday) and payment by successful bidders will be on 15 May, 2023 (Monday).


Know your inner investor
Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.

Take the test

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Finplay.
Download Finplay News App to get Daily Market Updates.

More
Less

Disclaimer: Along with publishing our own news, we get news from various sources namely from news wires ANI, PTI, other reputed finance portals and individual journalists. We are not legally liable for any inaccuracies in the news and expect the reader to do their own due diligence.

http://ganesh@finplay.in

Finance enthusiast, Mutual fund expert.




Leave a Reply

Your email address will not be published. Required fields are marked *

Finplay

AMFI-registered Mutual Fund Distributor ARN-192179

Company

© 2024 Finplay Technologies Private Limited. All Rights Reserved.