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Our Bureau

Mumbai , Jan 9

THE auctions of 8.39 per cent 2011 Government stock for Rs 6,000 crore and the 7.4 per cent 2035 G-Sec for Rs 4,000 crore were fully subscribed.

According to dealers, the cut-off price for the 8.39 G-sec was 10 paise lower than expected, while the cut-off for the 7.4 G-sec was one rupee more than expected.

The notified amount for the 8.39 G-sec was Rs 6,000 crore. The RBI received 222 competitive bids amounting to Rs 10,015.89 crore. Of t hese, the RBI accepted 137 bids.

The cut-off price was Rs 112.18 (6.6964 per cent YTM). The partial allotment percentage of competitive bids was 24.32 from eight bids. The weighted average price was Rs 112.27 crore.

The RBI also received and accepted 38 non-competitive bids amounting to Rs 31.8050 crore. The partial allotment percentage was 100 per cent. The amount of underwriting accepted from primary dealers was Rs 4,000 crore.

The notified amount for the 7.4 G-sec was Rs 4,000 crore. The RBI received 258 competitive bids amounting to Rs 11,605.78 crore. Of these, the RBI accepted 10 bids. The cut-off price was Rs 99.60 (7.43 per cent YTM).

The weighted average price was Rs 99.79 crore.

The RBI also received and accepted 60 non-competitive bids amounting to Rs 75.9 crore. The devolvement on primary dealers and on the RBI was nil for both G-Secs.

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