GOI Notification - 7.55 per cent

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प्रकाशित तारीख मे 07, 2007

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GOI Notification - 7.55 per cent

GOVERNMENT OF INDIAMINISTRY OF FINANCE
(Department of Economic Affairs)
(Budget Division)

New Delhi, May 7, 2007

NOTIFICATION

Auction for Sale (Re-issue ) of ‘7.55 per cent Government Stock, 2010’ under Market Stabilisation Scheme

F. No. 4 (1)-W&M/2007: Government of India hereby notifies sale (reissue) of ‘7.55 per cent Government Stock, 2010’ for an aggregate amount of Rs.2,000 crore (nominal) under the Market Stabilisation Scheme. The sale will be subject to the terms and conditions spelt out in this notification (called ‘Specific Notification’) as also the terms and conditions specified in the General Notification F No.4 (9)–W&M/2000,dated 6^th May 2002 issued by Government of India as amended time to time.

Method of Issue

2 The Government Stock will be sold through Reserve Bank of India, Mumbai Office, Fort, Mumbai- 400 001 in the manner as prescribed in paragraph 5.1 of the General Notification F No.4 (9)–W&M/2000,dated 6^th May 2002 by a price based auction using multiple price auction method.

Allotment to Non-competitive Bidders

3. Government Stock up to 5 % of the notified amount of the sale will be allotted to eligible individuals and institutions as per the enclosed Scheme for Non-competitive Bidding Facility in the Auctions of Government Securities (Annex).

Place and date of auction

4. The auction will be conducted by Reserve Bank of India, Mumbai Office, Fort, Mumbai-400 001 on May 9, 2007. The application form duly filled in with the bids should be submitted to the aforesaid office on May 9, 2007, by 12.30 P.M.

Tenure

5. The Stock will be of eight-year tenure commencing from May 14, 2002. The stock will be repaid at par on May 14, 2010.

Date of issue and payment for the stock

6. The result of the auction shall be displayed by the Reserve Bank of India at its Fort, Mumbai office on May 9, 2007. The payment by successful bidders will be on May 10, 2007, i.e., the date of issue. The payment for the Stock will include accrued interest on the nominal value of the Stock allotted in the auction from the last coupon payment date, i.e., November 14, 2006 to May 9, 2007.

Interest

7. Interest at the rate of 7.55 per cent per annum will accrue on the nominal value of the Stock from the date of last coupon payment and will be paid half yearly on November 14 and May 14.

By Order of the President of India

(L. M. Vas)
Joint Secretary to the Government of India