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Last Update: Mon, May 21, 2012 7:36 AM IST (2:06 AM GMT)
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New Delhi: The Indian government has announced underwriting auction (re-issue) of securities worth Rs 120 billion in three tranches, including '8.19% Government Stock 2020' of Rs 30 billion, '9.15% Government Stock 2024' of Rs 60 billion, and '8.97% Government Stock 2030' of Rs 30 billion, the Reserve Bank of India (RBI) said.
RBI, the custodian bank of the government, notified Wednesday that the underwriting auctions will commence through the multiple price based auction method on February 23, 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 12:30 pm on February 23, 2012, as per the RBI notification.
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The Reserve Bank of India (RBI) is India's central banking institution, which controls the monetary policy of the Indian rupee. It was established on 1 April 1935 during the British Raj in accor ...
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Contify is a leading content aggregation and an emerging business information company based in India. Launched in April 2009, the company has partnerships with over 280 leading and niche publications of the country, and distributes over 3,000 business news stories to global information databases like Dow Jones Factiva, Thomson Reuters, LexisNexis and Bloomberg on a daily basis.
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