SGB's redemption price is determined by the average closing price of 999 purity gold as published by the India Bullion and Jewelers Association Limited (IBJA) for the three business days before the redemption date.
The central bank has announced that the final redemption price has been set at Rs 6,601 per unit, reflecting the simple average closing price of gold for the week of March 18-March 22, 2024.
Sovereign Gold Bond 2023-24 Series IV: SGB 2023-24 Series IV opened for subscription on February 12, 2024 and closed on February 16, 2024. However unlike initial public offering (IPO) where investors may or may not get allotment, in SGBs if a investor applies and the documents checks out and application money is remitted on time, allotment is guaranteed.
India Business News: Investing in Sovereign Gold Bonds (SGB) can be an attractive option for many investors. Learn how to check your SGB allotment details after applying online or offline. Stay updated on your investments.
SGB investment: The SGBs are issued as Government of India Stock under Government Securities Act, 2006. Investors get a Certificate of Holding for the same when they invest in it.
The government along with the Reserve Bank of India (RBI) announced the two more tranches to the Sovereign Gold Bond (SGB) Series 2023–24 schedule for the fiscal year 2023-2024.
Here are a few things to keep in mind about how the receiving officer will handle your application and how you can obtain a certificate of holding if your application is accepted, according to the SGB procedure guidelines.
Sovereign Gold Bonds Series III Price Fixed At Rs 6,199: All You Need To Know, the Bonds will be opened for public subscription between December 18 and December 22, 2023