The Reserve Bank of India (RBI) accepted the full ₹33,000 crore notified for two government stock auctions Friday, completing both sales at their announced amounts.
The RBI's results list ₹19,000 crore accepted for 6.53% Government Stock 2031 and ₹14,000 crore for 7.71% Government Stock 2066, matching each stock's notified amount.
The 2031 stock's cut-off price was ₹96.65, corresponding to an implicit yield of 7.3589%. For the 2066 issue, the cut-off price was ₹97.30 and the implicit yield was 7.9339%.
Both implicit yields exceeded the coupon rates in the stock names: 7.3589% versus 6.53% for 2031 and 7.9339% versus 7.71% for 2066.
The RBI recorded no devolvement on primary dealers for either auction.
