I’m planning to purchase G Sec 7.30% GS 2053, this is my first G Sec purchase , while placing buy order in Coin the showing amount of 10539 for 100 units, my understanding base price per unit was RS 100. Any one can help me understand the booking amount was high and what was the price will be allocated for per unit. Moreover i noticed current trading price for the same bond 73GS2053-GS was around 100.90 in NSC.
The bid price for gsec is not 100, it depends on what the exchange releases, here for this security the price is 105.39. Once the auction is done the final price is decided and released on the RBI press release, the exchange accordingly reverse the excess funds that gets credited back to the trading account.
Refer to this varsity chapter to understand more in-depth.
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Thanks Neelesh for your feedback, Can you please prove the link from where you have refereed about exchange rate. Moreover if i buy i’ll get the per unit price of 105.39 or it may increase or decrease.