Underwriting Auctions for Government Securities
The Government of India have announced the sale (reissue) of "7.83 per cent Government Stock 2018 ” for a notified amount of ` 4,000 crore (nominal), "8.79 per cent Government Stock 2021 " for a notified amount of ` 5,000 crore (nominal) and "8.97 per cent Government Stock 2030” for a notified amount of ` 3,000 crore (nominal) through auctions to be held on December 23, 2011.
As per revised scheme of underwriting, dated November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) for the underwriting auctions, per Primary Dealer, are as under:
(` in crore)
The underwriting auctions will be conducted using multiple price based auction method on December 22, 2011 (Thursday). Primary Dealers (PDs) may submit their bids for ACU auctions electronically through Negotiated Dealing System (NDS) between 10.30 a.m. and 12.30 p.m. on the date of auction.
The underwriting commission will be credited to the current account of the respective PDs at the RBI, Fort, Mumbai on the date of issue of securities.
Press Release : 2011-2012/977