RBI sets issue price at Rs 2890 for Sovereign Gold Bond
11/12/2017
RBI sets issue price at Rs 2890 for Sovereign Gold Bond
11/12/2017 09:32
The Reserve Bank of India on Friday said Government of India has fixed issue price at Rs 2890 per gram for Sovereign Gold Bond 2017-18 Series- XII. "The Sovereign Gold Bond Scheme will be open for subscription from Monday to Wednesday of every week starting from October 09, 2017 until December 27, 2017. The settlement will be made on the first business day of the next week for the applications received during a given week," the apex bank said in a press release. For the subscription period from December 11, 2017 to December 13, 2017 with settlement on December 18, 2017, the nominal value of the bond based on the simple average closing price for gold of 999 purity of the last three business days of the week preceding the subscription period, i.e. December 06 to 08, 2017 works out to Rs 2890 per gram. Government of India, in consultation with the Reserve Bank of India, has decided to offer discount of Rs 50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode. For such investors, the issue price of Gold Bond will be Rs 2840 per gram of gold.
11/12/2017
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RBI sets issue price at Rs 2890 for Sovereign Gold Bond
11/12/2017 09:32
The Reserve Bank of India on Friday said Government of India has fixed issue price at Rs 2890 per gram for Sovereign Gold Bond 2017-18 Series- XII. "The Sovereign Gold Bond Scheme will be open for subscription from Monday to Wednesday of every week starting from October 09, 2017 until December 27, 2017. The settlement will be made on the first business day of the next week for the applications received during a given week," the apex bank said in a press release. For the subscription period from December 11, 2017 to December 13, 2017 with settlement on December 18, 2017, the nominal value of the bond based on the simple average closing price for gold of 999 purity of the last three business days of the week preceding the subscription period, i.e. December 06 to 08, 2017 works out to Rs 2890 per gram. Government of India, in consultation with the Reserve Bank of India, has decided to offer discount of Rs 50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode. For such investors, the issue price of Gold Bond will be Rs 2840 per gram of gold.
