Underwriting Auctions for Government Securities for ₹ 15,000 crore on June 23, 2016

All Banking Updates

The Government of India has announced the sale (re-issue) of the Government Stock through auctions to be held on June 24, 2016.

As per revised scheme of underwriting, dated November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) for the underwriting auctions, per Primary Dealer (PD), are as under:

(₹ in crore)
Security Notified Amount MUC amount per PD Minimum bidding commitment per PD under ACU auction
7.35% GS 2024 3,000 72 72
7.61% GS 2030 8,000 191 191
7.73% GS 2034 2,000 48 48
8.13% GS 2045 2,000 48 48

The underwriting auctions will be conducted using multiple price based auction method on June 23, 2016 (Thursday). PDs may submit their bids for ACU auctions electronically through Core Banking Solution (E- Kuber) System between 10.30 a.m. and 12.00 noon on the date of underwriting auction.

The underwriting commission will be credited to the current account of the respective PDs at the RBI, Fort, Mumbai on the date of issue of securities.   

Ajit Prasad
Assistant Adviser

Press Release : 2015-2016/2968