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Our Bureau

Mumbai , July 18

THE auction of the 10.25-Government stock 2021 was oversubscribed on Monday.

Dealers said that the cut-off price at Rs 122 was higher than market expectation, which was Rs 121.50. The bond prices rose by 30 paise to Rs 1.50 during the day as a result of this.

The notified amount for the paper was Rs 5,000 crore. The Reserve Bank of India received 408 competitive bids amounting to Rs 12,914.25 crore. The cut-off price was Rs 122 (7.78 per cent YTM). The RBI accepted 31 bids, amounting to Rs 4,977.85 crore.

The partial allotment percentage amounted to 90.55 per cent from 8 bids. The amount of underwriting accepted from primary dealers was Rs 3,900 crore.

The weighted average price was Rs 122.14. The RBI also received 27 non-competitive bids, amounting to Rs 22.15 crore.

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