Government of India have announced the sale (re-issue) of "7.94 percent Government Stock 2021" 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 "8.28 percent Government Stock 2032" for a notified amount of Rs. 4,000 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 September 26, 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 September 26, 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 September 26, 2008 and payment by successful bidders will be during banking hours on September 29, 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.
The Government of India has completed the issuance of dated securities for the first half of the current fiscal year as per the indicative calendar covering the period April 1, 2008 to September 30, 2008. Keeping in view the emerging requirements of the Government, market conditions and other relevant factors, the Government of India in consultation with the Reserve Bank of India, have decided to advance the borrowing programme for the second half of the fiscal year 2008-09 by scheduling issuance of dated securities amounting to Rs. 10,000 crore in September 2008.
Government of India
Ministry of Finance
Department of Economic Affairs
New Delhi - 110001
Dated September 23, 2008
