Underwriting auctions for 7.99% Government Stock 2017
Published October 11th, 2007
The Government of India have announced the sale (re-issue) of “7.99 per cent Government Stock 2017” for a notified amount of Rs. 6,000 crore (nominal) and “7.95 per cent Government Stock 2032” for a notified amount of Rs. 4,000 crore (nominal) through auctions, to be held on October 12, 2007. The underwriting auctions for both the securities will be conducted on October 11, 2007.
As per the scheme of underwriting dated April 4, 2006, the amounts of Minimum Underwriting Commitment (MUC) and Additional Competitive Underwriting (ACU) for the above auctions are as follows:
Rs. crore
Nomenclature of the Notified MUC amount per ACU amount
Security Amount PD
7.99 per cent GS 2017 6000 167 2994
7.95 percent GS 2032 4000 112 1984
The underwriting auctions will be conducted using multiple price based auction method. Primary Dealers (PDs) may submit their bids for ACU auctions electronically through NDS-PMO module between 10.30 AM to 12.30 PM on October 11, 2007.
The underwriting commission will be credited to the current account of the respective PDs at the RBI, Fort, Mumbai on the date of issue of security.
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