Financial Daily from THE HINDU group of publications
Wednesday, Apr 20, 2005
Financial Daily from THE HINDU group of publications Wednesday, Apr 20, 2005 |
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Money & Banking
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Govt Bonds Govt stock sale oversubscribed Our Bureau
Mumbai , April 19 THE auctions of the 8.07 per cent Government Stock 2017 and the 7.5 per cent Government Stock 2034 were oversubscribed on Tuesday. According to a dealer with a private bank, the results were as expected and did not impact the bond market much. For the 8.07 per cent 12-year-paper, the notified amount was Rs 5,000 crore. In all, the Reserve Bank of India received 165 competitive bids amounting to Rs 9,670.9 crore. The cut-off price was Rs 104.50 (7.49 per cent TYM). Of the competitive bids, 86 were accepted, amounting to Rs 4,960.12 crore. The amount of underwriting accepted from primary dealers was Rs 3,720 crore. The RBI received and accepted 11 non-competitive bids amounting to Rs 39.88 crore. For the 7.5 per cent 29-year paper, the notified amount was Rs 2,000 crore. Here, the central bank received 163 competitive bids, amounting to Rs 4,935.56 crore. The cut-off price was Rs 95 (7.94 per cent YTM). It accepted six bids amounting to Rs 9.41 crore. The amount of underwriting accepted from the primary dealers was Rs 1,720 crore.
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