New Delhi, Feb 17 : The Finance Ministry on Monday announced the sale of government bonds worth Rs 34,000 crore in three lots through auctions to be conducted by the Reserve Bank of India in Mumbai on Friday (February 21). The first lot comprises “6.75 per cent Government Security 2029” for a notified amount of Rs 14,000 crore while the second lot consists of “6.98 per cent GOI SGrB 2054” for a notified amount of Rs 5,000 crore.
The third set of “7.34 per cent Government Security 2064” is for a notified amount of Rs 15,000 crore. The three lots will be sold through a price-based auction using the multiple price method, the statement said. The government will have the option to retain additional subscriptions up to Rs 2,000 crore against each security mentioned above, according to the statement. Up to 5 per cent of the notified amount of the sale of the securities will be allotted to eligible individuals and institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities. Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on February 21.