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Gold pieces, each weighing 100 grams, are seen arranged at the state-owned mining company PT Antam Tbk metal refinery in Jakarta July 13, 2012 (representational image).Reuters file

The fifth tranche of the sovereign gold bond scheme (SGB) that was launched early this month saw 2 lakh applications for buying 2.37 tonnes of gold. The amount collected has been estimated at Rs 820 crore and the sixth tranche will be launched around Diwali next month with "additional features," the Central government said on Thursday.

The fifth tranche of the SGB scheme opened on September 1 and closed on September 9; the Reserve Bank of India fixed the issue price as Rs 3,150 per 1 gram of gold, highest since the first tranche.

Read: RBI to make fifth issue of sovereign bonds from September 1

As in the case of other tranches, SGBs to be issued in the fifth tranche carry interest at the rate of 2.75 per cent per annum, payable semi-annually. The minimum investment is 1 gram and the maximum limit is 500 gram. The sale of SGBs will be limited to resident Indian entities, including individuals, HUFs, trusts, universities and charitable institutions

In its Thursday (September 22) statement, the government said that the number of applications could be more as and when the data collection is complete.

"The amount realised through the 5th Tranche of Sovereign Gold Bond (SGB) Scheme, is expected to cross Rs 820 crore. This was mobilised through over 2.00 lakh applications representing around 2.37 tonnes of gold," the statement read.

"These numbers are likely to go up further as the receiving offices are still in the process of uploading information of huge rush of applications received on the last day," it added.

Enthused by the response, the government said more such tranches are in the offing.

"The government will come up with more tranches in 2016-17. The next tranche of SGB is expected around the third week of October, prior to Diwali. The next tranche is expected to come up with additional features to attract consumers even more," the statement said.

The fourth tranche saw a collection of Rs. 919 crore representing 2,950 kg of gold. The price per gram of gold was fixed at Rs 3,119. The overall collection in four tranches was Rs 2,292 crore representing 8,064 kg of gold.