Government of India Announces Sale of Three Dated Securities
OREANDA-NEWS. April 4, 2011. The Government of
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 Negotiated Dealing System (NDS) on April 8, 2011. The non-competitive bids should be submitted between
The result of the auctions will be announced on April 8, 2011 and payment by successful bidders will be on April 11, 2011 (Monday).
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 the Reserve Bank vide circular RBI/2007-08/186 dated November 14, 2007. Bids for underwriting of the Additional Competitive Underwriting (ACU) portion can be submitted by ‘Primary Dealers’ up to 12.30 P.M. on April 7, 2011 (Thursday) on the Negotiated Dealing System (NDS).
The Stocks will be eligible for “When Issued” trading for a period commencing from April 5-8,
The new seven year and ten year Stocks will be reckoned as an eligible investment in Government Securities by banks for SLR purpose under Section 24 of the Banking Regulation Act, 1949.
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