Market Stabilisation Scheme- Auction of dated Security
Published March 10th, 2007
It has been decided to auction a dated security for Rs. 2,000 crore (nominal) on March 14, 2007 under the Market Stabilisation Scheme (MSS). In consultation with the Government of India, “6.65 per cent Government Stock 2009†will be sold (re-issued) 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 March 14, 2007 (Wednesday).
Up to 5% of the notified amount of the sale of the stock will be allotted to eligible individuals and institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.
Bids in the prescribed form obtainable from the Regional Director, Reserve Bank of India, Mumbai Office (Public Debt Office), Fort, Mumbai-400 001 and RBI website www.rbi.org.in should be submitted to that Office on March 14, 2007. The NDS members should submit competitive as well as non-competitive bids in electronic format using Primary Market Operation (PMO) module of NDS. All bids should be submitted by 12.30 P.M.
The result of the auction will be announced on March 14, 2007 and payment by successful bidders will be during banking hours on March 15, 2007 (Thursday).
Sourced From: Reserve Bank of India
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