Gold Bond issue opens on December 19, price fixed at Rs 5,409 per gram
- IBJ Bureau
- Dec 17, 2022
The issue price for the next tranche of Sovereign Gold Bond Scheme 2022-23, which will open for subscription for five days from Monday, was fixed at Rs 5,409 per gram of gold, the Reserve Bank of India (RBI) said on Friday.
“The Sovereign Gold Bond Scheme 2022-23 - Series III will be open for subscription from December 19 to 23, 2022. The nominal value of the bond works out to Rs 5,409 per gram of gold,” the RBI said.
The Government of India, in consultation with the RBI has decided to offer a 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 5,359 per gram of gold,” the RBI added.
The RBI issues the bonds on behalf of the Government of India.
The Sovereign Gold Bonds (SGBs) 2022-23 - Series IV would open for subscription between March 6 and 10, 2023, the Finance Ministry had said on Thursday.
The price of SGB is fixed in Indian rupees on the basis of a simple average of closing price of gold of 999 purity, published by the India Bullion and Jewellers’ Association for the last three working days of the week preceding the subscription period.
The SGBs will be sold through scheduled commercial banks (except small finance banks, payments banks and regional rural banks), Stock Holding Corporation of India, Clearing Corporation of India, designated post offices and stock exchanges – NSE and BSE.