Issue price of Gold Bond Series –III fixed at Rs2,964 per gm

The issue price of gold bonds under Series-III of the Sovereign Gold Bond Scheme 2017-18 for the subscription period 20-22 November 2017 has been fixed at Rs2,964 per gram, with its settlement date on 27 November 2017.

A discount of Rs50 per gram from the issue price would be offered to those investors who apply online and the make payment through digital mode, a government release stated.

The government of India, in consultation with the Reserve Bank of India (RBI), has kept open Series III of Sovereign Gold Bonds 2017-18 for subscription between 9 October and 27 December 2017 (with subscription period Monday to Wednesday every week).

The bonds will be issued on the succeeding Monday after each subscription period.

This round of bonds is part of the SGB calendar announced till December and is spread over 12 weeks.

The first tranche under the current schedule closed on 11 October.

Under the scheme, the bonds are denominated in units of one gram of gold and multiples thereof. Minimum investment in the bonds is one gram, with a maximum limit of 500 grams per person, per fiscal year (April to March).