Govt to sell dated securities worth Rs. 15,000 crore
Published: Nov 21, 2017
By TIOLCORPLAWS News Service
NEW DELHI, NOV 21, 2017: GOVT to sell four dated securities for Rs. 15,000 crore on November 24, 2017. Subject to the limit of Rs. 15000 Cr, Govt will have the option to retain additional subscription up to Rs. 1000 Cr against security. The auction will be conducted using multiple price method. Up to 5% of the notified amount of the sale of the stocks 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 November 24, 2017. The non-competitive bids should be submitted between 10.30 a.m. and 11.30 a.m. and the competitive bids should be submitted between 10.30 a.m. and 12.00 noon. The result of the auctions will be announced on November 24, 2017. The stocks will qualify for the ready forward facility. The underwriting of the Government Securities under auctions by the ‘Primary Dealers' will be as per the “Revised Scheme of Underwriting Commitment and Liquidity Support” announced by RBI.