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Buyback of WPI-Linked Inflation Indexed Bond by GoI
Mumbai, Feb 6 (IBNS) The Government of India (GoI) has announced the repurchase of 1.44 per cent Inflation Indexed Government Stock-2023 through reverse auction for an aggregate amount of Rs 6,500 crore (face value).
GoI will undertake the repurchase, purely ad hoc in nature, to redeem the government stocks prematurely by utilizing surplus cash balances.
Auction for securities will be on price-based auction format.
The auctions will be conducted using multiple price method.
Bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on February 11, 2016 (Thursday) between 10.30 a.m. and 12.00 noon.
The result of the auctions will be announced on the same day.
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