The Government of India has announced auction of 12.32 per cent Government Stock, 2011 for an aggregate amount of Rs.2,500 crore.

The auction will be price based and will be conducted by the Reserve Bank of India (RBI) at Mumbai on Tuesday, September 28, 1999. Bids, in the prescribed form obtainable from Chief General Manager, Reserve Bank of India, Public Debt Office, Fort, Mumbai should be submitted on Tuesday, September 28, 1999 during banking hours. On the basis of bids received, the Reserve Bank of India will determine the minimum price at which offers will be accepted. The results of the auction will be announced on September 28, 1999 and payment by successful bidders will be during banking hours on September 29, 1999. The stock will qualify for ready forward facility.