RBI auctions 6.65% Government Stock 2009
Published March 7th, 2007
RBI today conducted an auction to sell 6.65% Government Stock 2009 which was over-subscribed.
At a multiple price-based auction, RBI received 201 bids worth Rs 1,33,400 million for the papers. Out of them, only 86 competitive bids were accepted for the notified amount of Rs 60000 million. The cut-off price was determined at Rs 97.70, offering a ytm (yield to maturity) of 7.867%.
The weighted average price worked out to Rs 97.83. The partial allotment percentage of competitive bids was 40% with 2 bids.
The apex bank did not receive any non-competitive bids for this paper.
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