OREANDA-NEWS. January 11, 2012. The Government of India have announced the sale of (i) new "8 Years Government Stock 2020" for a notified amount of 4,000 crore (nominal),(ii) reissue of "9.15 per cent Government Stock 2024" for a notified amount of 6,000 crore (nominal) and (iii) reissue of "8.97 per cent Government Stock 2030" for a notified amount of 4,000 crore (nominal) through auctions to be held on January 13, 2012.

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

New 8 Years GS 2020

4000

96

96

9.15 per cent GS 2024

6000

143

143

8.97 per cent GS 2030

4000

96

96

The underwriting auctions will be conducted using multiple price based auction method on January 12, 2012. 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.