Government of India have announced the sale (re-issue) of '8.35 per cent Government Stock 2022' for a notified amount of Rs. 5,000 crore (nominal). The Government Stock will be sold through price based auction using multiple price method. Securities will be issued for a minimum nominal amount of Rs.10,000/-and in multiples of Rs.10,000/- thereafter. Auction will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on Monday, February 7, 2005.

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 that auction.

4. The result of the auction will be displayed at RBI, Mumbai Office, Fort, Mumbai on Monday, February 7, 2005. Successful bidders should deposit with that Office the price amount of Government Stock(s) covered by their successful bids on February 8, 2005 by 2.30 p.m. in cash or by cheque on their account with RBI, Mumbai or by Banker's Pay Order.

5. The Government Stock will bear interest at the rate of 8.35 percent per annum. 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.

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

7. For further details, Government of India Notification No. 4(8) -W&M/2004 dated February 2, 2005 may be seen.

(*PFs, Trusts, RRBs, Cooperative Banks, NBFCs, Corporates, HUFs and Individuals)