Government of India (GOI) has introduced the sale (situation/re-situation) of 4 dated securities for a notified quantity of ₹32,000 crore as per the next particulars:
| Sr No | Security | Date of Repayment | Notified Amount (₹ crore) |
GoI particular Notification | Auction Date | Settlement Date |
| 1 | 7.38% GS 2027 | June 20, 2027 | 9,000 | F.No.4(3)-B(W&M)/2022 dated September 05, 2022 |
September 09, 2022 (Friday) |
September 12, 2022 (Monday) |
| 2 | GOI FRB 2028* | Oct 04, 2028 | 4,000 | |||
| 3 | 7.54% GS 2036 | May 23, 2036 | 11,000 | |||
| 4 | New GS 2052 | Sep 12, 2052 | 8,000 | |||
| Total | 32,000 | |||||
| *The base charge for the coupon fee for the interval from April 04, 2022 to October 03, 2022 for GOI FRB 2028 shall be 4.29 per cent every year. | ||||||
2. GoI could have the choice to retain further subscription as much as ₹2,000 crore in opposition to every safety talked about above.
3. The securities will likely be offered by means of Reserve Bank of India Mumbai Office, Fort, Mumbai – 400001. The sale will likely be topic to the phrases and circumstances spelt out within the ‘Specific Notification’ talked about above and the General Notification F.No.4(2)–W&M/2018, dated March 27, 2018.
4. The public sale will likely be performed utilizing uniform worth technique for 7.38% GS 2027, GOI FRB 2028, 7.54% GS 2036 and a number of worth technique for New GS 2052. Both aggressive and non-aggressive bids for the public sale needs to be submitted in digital format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on September 09, 2022 (Friday). The non-aggressive bids needs to be submitted between 10.30 a.m. and 11.00 a.m. and the aggressive bids needs to be submitted between 10.30 a.m. and 11.30 a.m. The outcome will likely be introduced on the identical day and fee by profitable bidders must be made on September 12, 2022 (Monday).
5. Bids for underwriting of the Additional Competitive Underwriting (ACU) portion may be submitted by ‘Primary Dealers’ from 09.00 a.m. as much as 09.30 a.m. on September 09, 2022 (Friday) on the Reserve Bank of India Core Banking Solution (E-Kuber) system.
6. The Stocks will likely be eligible for “When Issued” buying and selling for a interval commencing from September 06 – September 09, 2022.
7. Operational pointers for Government of India dated securities public sale and different particulars are given within the Annex.
Rupambara
Director (Communications)
Press Release: 2022-2023/819
ANNEX
Type of Auction
1. For a number of worth-based mostly public sale, profitable bids will get accepted on the respective quoted yield/worth for the safety. For uniform worth-based mostly public sale, bids will get accepted on the reduce off yield/worth accepted within the public sale.
2. The public sale will likely be yield based mostly for brand new safety and worth based mostly for securities that are re-issued.
3. In case of a Floating Rate Bonds (FRB), the public sale will likely be unfold-based mostly for brand new safety and worth based mostly for securities that are reissued. At the time of putting bids for brand new FRB, the unfold needs to be quoted in share phrases.
Minimum Bid Size
4. The Stocks will likely be issued for a minimal quantity of ₹10,000/- (nominal) and in multiples of ₹10,000/- thereafter.
Non-Competitive Segment
5. In all of the auctions, Government Stock as much as 5% of the notified quantity of sale will likely be allotted to the eligible people and establishments underneath the Scheme for Non-competitive Bidding Facility within the Auctions of Government Securities. Individual traders may place bids as per the non-aggressive scheme by means of the Retail Direct portal (https://rbiretaildirect.org.in).
6. Each financial institution or Primary Dealer (PD) on the premise of agency orders obtained from their constituents will submit a single consolidated non-aggressive bid on behalf of all its constituents in digital format on the Reserve Bank of India Core Banking Solution (E-Kuber) system.
7. Allotment underneath the non-aggressive phase to the financial institution or PD will likely be on the weighted common charge of yield/worth of the profitable bids that can emerge within the public sale on the premise of the aggressive bidding.
Submission of Bids
8. Both aggressive and non-aggressive bids for the public sale needs to be submitted in digital format on the Reserve Bank of India Core Banking Solution (E-Kuber) system.
9. Bids in bodily type won’t be accepted besides in extraordinary circumstances.
Business Continuity Plan (BCP)-IT failure
10. Only within the occasion of system failure, bodily bids will likely be accepted. Such bodily bids needs to be submitted to the Public Debt Office, Mumbai by means of (electronic mail; Phone no: 022-22632527, 022-22701299) within the prescribed type which may be obtained from RBI web site (https://www.rbi.org.in/Scripts/BS_ViewForms.aspx) earlier than the public sale timing ends.
11. In case of technical difficulties, Core Banking Operations Team needs to be contacted (electronic mail; Phone no: 022-27595666, 022-27595415, 022-27523516).
12. For different public sale associated difficulties, IDMD public sale group may be contacted (electronic mail; Phone no: 022-22702431, 022-22705125).
Multiple Bids
13. An investor can submit a couple of aggressive bid in digital format on the Reserve Bank of India Core Banking Solution (E-Kuber) system.
14. However, the combination quantity of bids submitted by an individual in an public sale shouldn’t exceed the notified quantity of public sale.
Decision Making Process
15. On the premise of bids obtained, the Reserve Bank will decide the minimal worth as much as which tenders for buy of Government Stock will likely be accepted on the auctions.
16. Bids quoted at charges decrease than the minimal worth decided by the Reserve Bank of India will likely be rejected.
17. Reserve Bank of India could have the total discretion to simply accept or reject all or any bids both wholly or partially with out assigning any cause.
Issue of Securities
18. Issue of securities to the profitable bidders will likely be by credit score to Subsidiary General Ledger Account (SGL) of events sustaining such account with Reserve Bank of India or within the type of Stock Certificate.
Periodicity of Interest Payment
19. Interest on the Government Stock will typically be paid half-yearly aside from in case of securities with non-customary maturities. The actual periodicity of coupon fee is invariably talked about within the particular notification for the difficulty of safety.
Underwriting of the Government Securities
20. The underwriting of the Government Securities underneath auctions by the ‘Primary Dealers’ will likely be as per the “Revised Scheme of Underwriting Commitment and Liquidity Support” introduced by the Reserve Bank vide round RBI/2007-08/186 dated November 14, 2007 as amended infrequently.
Eligibility for Repurchase Transactions (Repo)
21. The Stocks will likely be eligible for Repurchase Transactions (Repo) as per the circumstances talked about in Repurchase Transactions (Repo) (Reserve Bank) Directions, 2018 (Reserve Bank) Directions, 2018 as amended infrequently.
Eligibility for ‘When Issued’ Trading
22. The Stocks will likely be eligible for “When Issued” buying and selling in accordance with the rules on ‘When Issued transactions in Central Government Securities’ issued by the Reserve Bank of India vide round No. RBI/2018-19/25 dated July 24, 2018 as amended infrequently.
Investment by Non-Residents
23. Investments by Non-Residents are topic to the rules on ‘Fully Accessible Route’ for Investment by Non-residents in Government Securities and Investment by Foreign Portfolio Investors (FPI) in Government Securities: Medium Term Framework (MTF).
