The government said it would raise Rs 33,000 crore through the sale of bonds (government securities) on Friday. Four government securities (G-Secs) with rates from 6.69 per cent to 7.40 per cent would be auctioned through multiple price-based methods on Reserve Bank of India's (RBI's) Core Banking Solution (E-Kuber) system.
Primary dealers (PDs) can submit their bids for ACU auction electronically.
In a statement, on Thursday, RBI said, "Government has announced the sale (re-issue) of Government Securities through auctions, to be held on September 30, 2022."
As per RBI, of the total, the highest G-Sec aggregated to Rs 13,000 crore valuation with a coupon rate of 7.26 per cent and a maturity term of 2032. The minimum bidding in this security is Rs 310 crore.
G-Secs worth Rs 9,000 crore would be offered with a coupon rate of 7.40 per cent and tenure of 2062. The minimum bidding amount for this bond sale is Rs 215 crore. Rs 7,000 crore G-Secs would be offered with a coupon rate of 7.10 per cent and a maturity term of 2029. The minimum bidding amount for this bond is Rs 167 crore.
According to RBI, the underwriting auction would be conducted through multiple price-based methods on Friday. PDs may submit their bids for ACU auction electronically between 10.30 am and 11 am.
The underwriting commission would be credited to the current account of the respective PDs with the Reserve Bank on the date of issue of securities.
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