New Delhi: The Indian government has announced the sale of securities worth Rs 150 billion in four tranches, including '8.24% Government Stock 2018' of Rs 40 billion, '8.79% Government Stock 2021' of Rs 70 billion, '8.28% Government Stock 2027' of Rs 20 billion and '8.33% Government Stock 2036' of Rs 20 billion, the Reserve Bank of India (RBI) said Wednesday.
RBI, the custodian bank of the government, notified that the underwriting auctions will commence through the multiple-price based auction method on May 10, 2012.
The amounts of minimum underwriting commitment (MUC) and the minimum bidding commitment under additional competitive underwriting (ACU) for the underwriting auctions, stand as per the revised scheme of underwriting, dated November 14, 2007.
Primary Dealers (PDs) have to submit their bids for ACU auctions electronically through negotiated dealing system (NDS) between 10:30 am and 12:00 pm on May 10, 2012.
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