Auction for sale (re-issue) of Government of India Stock (Securities)

Government of India have offered to sell (re-issue) "5.64 percent Government Stock 2019" for a notified amount of Rs.5,000 crore through a price based auction using multiple price auction method. Securities will be issued for a minimum nominal amount of Rs.10,000/-and in multiples of Rs.10,000/- thereafter. The auction will be conducted by Reserve Bank of India (RBI), Mumbai Office, Fort, Mumbai on February 26, 2004 (Thursday).

2. Interested persons may submit bids in the prescribed form obtainable from the Regional Director, RBI, Public Debt Office, Fort, Mumbai on February 26, 2004 between 10.30 a.m. and 12.30 p.m. in sealed cover superscribed 'Tender for 5.64 percent Government Stock, 2019 - Auction dated February 26, 2004" and deposit them in the appropriate tender box at RBI, Fort, Mumbai. The competitive bids by the NDS members should be submitted only in electronic format using NDS while all the non-competitive bids should be submitted in the prescribed physical form.

3. The price per cent expected by the bidder should be expressed up to two decimal points. An investor can submit more than one bid at different prices, but a separate application should be submitted for each bid. The aggregate amount of bids submitted by a person in an auction should not exceed the notified amount of each auction.

4. The results of the auction will be displayed at RBI, Fort, Mumbai on February 26, 2004. Successful bidders should deposit with that office the price amount of Stock covered by their bids on February 27, 2004 (Friday) by 2.30 p.m. in cash or by cheque on their account with RBI, Mumbai or by Banker's Pay Order payable at Mumbai.

5. The Government Stock will bear interest at the rate of 5.64 percent per annum. Interest will be paid half-yearly. The Stock will be governed by the provisions of Public Debt Act, 1944 and the rules framed there under.

6. The Stock will be eligible for ready forward facility.

7. For further details, Government of India Notifications No 4(8) -W&M/2003 dated February 23, 2004 may be seen.