Government of India have announced the repurchase of “5.87 per cent Government Stock, 2010” for a notified amount of Rs.4,000 crore (nominal) and “7.55 per cent Government Stock, 2010” for a notified amount of Rs.5,000 crore (nominal) under Market Stabilization Scheme. The Government Stocks will be repurchased through price based auction using multiple price method. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, and Mumbai on November 20, 2008 (Thursday).
Offers in the prescribed form obtainable from the Regional Director, Reserve Bank of India, Mumbai Office (Public Debt Office), Fort, Mumbai-400001 and RBI website should be submitted to that Office on November 20, 2008. The NDS members should submit the competitive offers in electronic format using Open Market Operation (OMO) module of NDS. All offers should be submitted by 12.30 P.M.
The results of the auctions will be announced on November 20, 2008 (Thursday) and payment to successful offerers will be made during banking hours on November 24, 2008 (Monday).
