According to a statement released by the Department, “Up to 5 per cent of the notified amount of the sale of the stocks will be allotted to eligible individuals and institutions according to the scheme for non-competitive bidding facility in the auction of government securities.”
The Department of Economic Affairs, Ministry of Finance has announced the sale of
– 7.02 per cent Government Stock 2016 for a notified amount of Rs 3,000 crore
– 6.90 per cent Government Stock 2019 for a notified amount of Rs 4,000 crore
– 8.28 per cent Government Stock 2032 for a notified amount of Rs 3,000 crore
All prices quoted are nominal and the auction will be conducted through uniform price method on the 23rd of October.
All non-competitive bids are to be submitted between 10.30 a.m. and 11.30 a.m. while the competitive bids should be submitted between 10.30 a.m. and 12.30 p.m. Both bids should be submitted in electronic format on the Negotiated Dealing System. The result of the auctions will be announced on the same day as the bids and payment has to be made by the successful bidders on October 26.
According to a statement released by the Department, “Up to 5 per cent of the notified amount of the sale of the stocks will be allotted to eligible individuals and institutions according to the scheme for non-competitive bidding facility in the auction of government securities.”