SGBMR29XII or SGBMR29XII-GB is the name of a sovereign gold bond series that is listed on the national stock exchange and was issued on 9th March 2021 by RBI. It was open for subscription from March 01, 2021, till March 05, 2021. As per the Reserve Bank of India, SGBs or Sovereign Gold Bond are government securities denominated in grams of gold. These are the substitutes for holding physical gold where a semi-annual interest is provided (Interest Rate 2.5% on Issue Price).
SGBMR29XII Issue Price
Here the issue price is the 4662/-. The issue price of the bond is based on the simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the last three business days of the week preceding the subscription period, i.e. February 24 - 26, 2021.
Interest on SGBMR29XII
Here the interest amount is calculated on the face value amount which is Rs. 4662/- and will pay interest of Rs. 58.28 semi-annually on 09th March and on 09th September periodically till the maturity date.
Redemption Date SGBMR29XII?
On maturity or redemption date which is 09th March 2029, it is going to be redeemed and will pay back maturity amount which will depend on the Gold Price as per IBJA Rates at the time of maturity. The amount will be credited to your Demat linked bank account on the maturity date.
Units Issued under this SGB Series
Because of the high face value here, interest payout is also high, along with this, liquidity is also high in the secondary market. Liquidity is high due to high subscription in this issue. The total Subscription unit is 3230907 as per RBI data.
ISIN Code of this SGB
IN0020200427 is the Unique International Securities Identification Number of SGBMR29XII.
How to buy SGBMR29XII?
If you are planning to invest in this SGB then you need to have a Demat account to hold and a trading account to place buy order on stock exchanges. If you have a Demat account and a trading account with Upstox or Zerodha then you can easily buy any SGBs from the secondary market. If you want to buy this SGB from the secondary market then you just need to place an order on your stockbroker platform by searching the name SGBMR29XII (for placing an order on NSE) or SGBMAR29 (for placing an order on BSE). Before buying you should calculate the return on this SGB because the prices are trading at a premium to know the calculation steps click here.
Bonus
To know about ea8ch and every listed gold bonds on stock exchanges you can check out this link and select gold bonds https://www.moneyseth.com/bonds/
Note: Before buying any SGB from the secondary market do calculate your returns so that you don't miss the benefit of interest payment (Sovereign Gold Bond Return Calculation).
If you have doubt then feel free to ask in comment section.
