Nifty99000 100%

Sensex99000 100%

Article rating: No rating
Article rating: 4.8
Article rating: 5.0
Article rating: 3.0
Article rating: No rating
Article rating: 5.0
Article rating: No rating
Article rating: No rating
Article rating: 4.5
Article rating: No rating
Article rating: No rating
Article rating: 4.2
Article rating: 5.0
Article rating: 4.0
Article rating: No rating
Article rating: No rating


Next SGB issue price fixed at Rs 2,971 per gram

Author: IANS/Monday, October 23, 2017/Categories: Gold

Next SGB issue price fixed at Rs 2,971 per gram

New Delhi, Oct 21 - The government on October 21 said it has fixed Rs 2,971 per gram as issue price for the next offering of its Sovereign Gold Bond (SGB) scheme, an official said.

The issue price has been fixed at Rs 2,971 per gram for subscription during October 23-25, with settlement on October 30, said a statement from the Ministry of Finance.

"The Government of India, in consultation with the Reserve Bank of India, has decided to allow discount of Rs 50 per gram from the issue price to those investors who apply online and the payment is made through digital mode," it said.

The SGB 2017-18 - Series-III is open for public subscription from October 9 to December 27, 2017. Bonds under the scheme earn an interest of 2.50 per cent per annum, payable every six months on initial investment.

The bonds with a tenure of eight years and an exit option from the fifth year are sold through banks, post offices, Stock Holding Corporation of India (SHCIL) and recognised stock exchanges -- National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

SGBs are denominated in multiples of gram of gold with a minimum unit of one gram and can also be held in demat form for ease of trading.

The scheme was launched in November 2015 as an alternative to purchasing physical gold and mobilise the idle gold held by households and institutions into productive use in the long run.

Print Rate this article:
No rating

Number of views (277)/Comments (0)

Kavita Giridhar Mallya


Other posts by IANS
Contact author

Leave a comment

Add comment



Ask the Finapolis.

I'm not a robot
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest



The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.

Subscribe For Free

Get the e-paper free