BENGALURU (Reuters) - India will buy back 400 billion rupees ($4.80 billion) worth of securities, the country's central bank said on Friday.
The securities offered for buyback are 6.18% GS 2024, 9.15% GS 2024 and 6.89% GS 2025, the Reserve Bank of India said in a statement.
There is no notified amount for the individual securities and the auction will be conducted using the multiple price method, RBI further said.
In multiple price auctions, buyers are allotted bonds at the price they bid.
The auction and its results will be announced on May 9 and settlement will take place on May 10, it added.
($1 = 83.4156 Indian rupees)
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Shinjini Ganguli)
