Underwriting Auctions for Government Securities for ₹ 15,000 crore on June 29, 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 30, 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
7.68% GS 2023 3000 72 72
7.59% GS 2026 8000 191 191
7.50% GS 2034 2000 48 48
7.72% GS 2055 2000 48 48

The underwriting auctions will be conducted using multiple price based auction method on June 29, 2016 (Wednesday). 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 : 2015-2016/3016