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Home » News » Press Release

Dec 21, 2011, 12.15 PM | Source: RBI

Underwriting Auctions for Government Securities

Underwriting Auctions for Government Securities

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Underwriting Auctions for Government Securities

Underwriting Auctions for Government Securities

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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  2030for 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)                    

Nomenclature of the Security

Notified Amount

MUC amount per       Primary Dealer

Minimum bidding commitment per PD under ACU auction

7.83  per cent  GS  2018

4000

96

96

8.79  per cent  GS  2021

5000

120

120

8.97  per cent  GS  2030

3000

72

72

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.

Ajit Prasad
Assistant General Manager

Press Release : 2011-2012/977

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