Government of India have announced the sale (re-issue) of "8.07 percent Government Stock 2017" for a notified amount of Rs 5,000 crore (nominal) through a price based auction using multiple price method. The auction will be conducted by the Reserve Bank of India , Mumbai Office, Fort, Mumbai on November 24, 2006 (Friday).

3. The price percent 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 that auction.

4. The result of the auction will be displayed at RBI, Mumbai Office, Fort, Mumbai on Friday, November 24, 2006. Successful bidders should deposit with that Office the price amount of Government Stock covered by their successful bids on November 27, 2006 by 3.00 P.M. in cash or by cheque on their account with RBI, Mumbai or by Banker's Pay Order.

5. The Stock will be eligible for "When Issued" trading for a period commencing from November 20, 2006 to November 24, 2006 in accordance with the guidelines on ‘When Issued’ transactions in Central Government Securities’issued by the Reserve Bank of India vide circular No. RBI /2006-07/178 dated November 16, 2006.

6. Interest on the Government Stock will be paid half-yearly. The Stock will be governed by the provisions of Public Debt Act, 1944 and the rules framed there under.

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

8. For further details, Government of India Notifications No. 4(6) -W&M/2006 dated November 17, 2006 may be seen.