Government of India have announced the sale (re-issue) of "7.56 percent Government Stock 2014" for a notified amount of Rs.6,000 crore (nominal) through a price based auction using multiple price method. Government of India have also announced the sale (re-issue) of "7.94 percent Government Stock 2021" for a notified amount of Rs. 3,000 crore (nominal) through a price based auction using multiple price method. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on November 21, 2008 (Friday).
Up to 5% of the notified amount of the sale of both the stocks will be allotted to eligible individuals and Institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.
Bids in the prescribed form obtainable from the Regional Director, Reserve Bank of India, Mumbai Office (Public Debt Office), Fort, Mumbai-400 001 and RBI website www.rbi.org.in 
should be submitted to that Office on November 21, 2008. The NDS members should submit competitive as well as non-competitive bids in electronic format using Primary Market Operation (PMO) module of NDS. All bids should be submitted by 12.30 P.M.
The result of the auctions will be announced on November 21, 2008 and payment by successful bidders will be during banking hours on November 24, 2008 (Monday).
The Stocks will be eligible for "When Issued" trading in accordance with the guidelines on 'When Issued transactions in Central Government Securities' issued by the Reserve Bank of India vide circular No. RBI /2006-07/178 dated November 16, 2006 as amended from time to time.
As per the indicative calendar, the Government of India was to auction a dated security of 5-9 year tenure for a nominal amount of Rs.6,000 crore during November 14-21, 2008 and a dated security of 10-14 year tenure for a nominal amount of Rs.3,000 crore during December 5-12, 2008. Instead, the Government of India, in consultation with the Reserve Bank of India have decided to issue both the dated securities on November 21, 2008.
Government of India
Ministry of Finance
Department of Economic Affairs
New Delhi - 110001
Dated November 17, 2008
