The Government of India (GOI) is going to sell (re-issue) three dated securities for a notified amount of Rs 30,000 crore. The securities will be sold through the Reserve Bank of India's Mumbai office on August 21.
As per the notification, the government will have the option to retain additional subscription up to Rs 2,000 crore against each security. Besides, 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 August 21, 2020.
The result will be announced on the same day and payment by successful bidders will have to be made on August 24, 2020. The auction will be a multiple price-based auction -- successful bids will get accepted at their respective quoted price for the security.