Govt to sell 4 dated securities for Rs 15k cr on Aug 24

The government will sell four dated securities for Rs 15,000 crore on August 24, the Reserve Bank said today.

The auction, the RBI said, will be conducted using the multiple price method.

"Up to 5 per cent of the notified amount of the sale of 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," it said.

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 24, the RBI added.

"An investor can submit more than one competitive bid at different prices in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system. However, the aggregate amount of bids submitted by a person in an auction should not exceed the notified amount of auction," said the RBI notification in this regard.

The stocks will be issued for a minimum of Rs 10,000 (nominal) and in multiples of Rs 10,000 thereafter.

The result of the auctions will be announced on August 24 and payment by successful bidders will be on August 28.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)