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Our Bureau

Mumbai , Aug 11

THE sale of two government securities — the 8.07 per cent 2017 paper and 7.5 per cent 2034 paper — for Rs 8,000 crore received over-subscription on Thursday.

The notified amount for the 8.07 per cent 2017 paper was Rs 5,000 crore. RBI received 287 bids amounting to Rs 9,015.82 crore.

Of this, RBI accepted 116 bids amounting to Rs 4,926 crore. The cut-off price was Rs 107.17. Partial allotment percentage was 38.02 per cent from nine bids. Weighted average price was Rs 107.33.

RBI also received and accepted 74 non-competitive bids amounting to Rs 73.99 crore. Partial allotment percentage was 100 per cent.

The underwriting amount accepted from primary dealers was Rs 3,580 crore.

In the case of the 7.5 per cent 2034 paper, the notified amount was Rs 3,000 crore. RBI received 148 competitive bids amounting to Rs 6,354.77 crore.

Of this RBI accepted five bids amounting to Rs 2,918.84 crore. The cut-off price was Rs 100.65.

Partial allotment percentage was 81.77 per cent from one bid. The weighted average price was Rs 100.81.

RBI also received and accepted 70 bids amounting to Rs 81.15 crore. Partial allotment percentage was 100 per cent.

The underwriting amount accepted from primary dealers was Rs 1,565 crore.

According to dealers, the cut-off price of the 8.07 paper was in line with market expectations, but for the 7.50 paper, it was above market expectations.

It was likely that LIC might have bought, because there were only five bids, dealers added.

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