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    HomeNewsBusinessPress ReleaseUnderwriting Auctions for Government securities

    Underwriting Auctions for Government securities

    Underwriting Auctions for Government securities

    February 02, 2011 / 11:41 IST

    The Government of India have announced the sale (reissue) of “7.17 per cent Government Stock 2015” for a notified amount of `3,000 crore (nominal), "8.13 per cent Government Stock 2022" for a notified amount of `4,000 crore (nominal) and "8.30 per cent Government Stock 2040” for a notified amount of `3,000 crore (nominal) through auctions to be held on February 04, 2011. The underwriting auctions for the captioned securities will be conducted on February 03, 2011 (Thursday).

    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

    7.17 per cent  GS  2015

    		3000

    		75

    		75

    8.13 per cent  GS  2022

    		4000

    		100

    		100

    8.30 per cent  GS  2040

    		3000

    		75

    		75

    The underwriting auctions will be conducted using multiple price based auction method. 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 February 03, 2010 (Thursday).

    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.

    R. R. Sinha Deputy General Manager

    Press Release : 2010-2011/1102
    first published: Feb 2, 2011 11:41 am

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