Sovereign gold bond to open for subscription on May 17

The first tranche of Sovereign Gold Bonds 2021-22 will be open for subscription for five days from Monday, the finance ministry said in a statement.

The subscription period for 2021-22 Series I will be May 17-21, and bonds will be issued on May 25.

The price of the bond will be fixed in Indian Rupees based on the simple average of the closing price of gold of 999 purity, published by the India Bullion and Jewellers Association Limited for the last 3 working days of the week preceding the subscription period.

The tenor of the bond will be for 8 years with an exit option after the 5th year to be exercised on the next interest payment dates.

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