New Delhi, May 21 -- The Government of India is set to conduct an underwriting auction for the sale (re-issue) of Government Securities for Rs 32,000 crore on Friday (May 22). According to the Reserve Bank of India (RBI), the entire notified amount for the new securities is subject to this underwriting process.

The RBI stated that, "As per the extant scheme of underwriting commitment notified on November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) auction, applicable to each Primary Dealer (PD), are as under."

The 6.03 per cent GS 2029 and the 6.68 per cent GS 2033 securities each carry a notified amount of Rs 11,000 crore. Additionally...