Government of India have announced auction of 11.75 percent Government Stock, 2004 for an aggregate amount of Rs 4,000 crore(nominal).

2. The auction will be price based and will be conducted by the Reserve Bank of India (RBI) at Mumbai on Friday, July 21, 2000. Bids in the prescribed form obtainable from the Regional Director, RBI, Public Debt Office, Fort, Mumbai should be submitted on Friday, July 21, 2000 during the banking hours. On the basis of bids received, RBI will determine the minimum price at which offers will be accepted. The results of the auction will be announced on July 21, 2000 and payment by successful bidders will be during banking hours on July 22, 2000. The stock will qualify for the ready forward facility.

3. Bids for underwriting of the Government Security under auction can be submitted by the ‘Primary dealers in the Government Securities Market’ up to 2.30 p.m. on July 20, 2000 to the Chief General Manager, Internal Debt Management Cell, Reserve Bank of India, Central Office , Fort, Mumbai 400 001.