The Government of India (GoI) has announced the Sale (Re-issue) of (i) ‘3.96% Government Security, 2022’ for a notified amount of Rs 2,000 crore (nominal) through pricebased auction, (ii) ‘5.15% Government Security, 2025’ for a notified amount of Rs 11,000 crore (nominal) through pricebased auction, (iii)‘5.85% Government Security, 2030’ for a notified amount of Rs 9,000 crore (nominal) throughpricebased auction,and(iv) ‘6.80%Government Security, 2060’ for a notified amount of Rs 6,000 crore (nominal) through pricebased auction. GoI will have the option to retain additional subscription up to Rs 2,000 crore against each of the above securities. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on December 24, 2020 (Thursday) using multiple price method.

Up to 5% of the notified amount of the sale of the Securitieswill be allotted to eligible individuals and Institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.

Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on December 24, 2020. The non-competitive bids should be submitted between10.30 a.m. and 11.00 a.m. and the competitive bids should be submitted between 10.30 a.m. and 11.30 a.m.

The result of the auctions will be announced on December 24, 2020 (Thursday) and payment by successful bidders will be on December 28, 2020 (Monday).

The Securities will be eligible for “When Issued” trading in accordance with the guidelines on ‘When Issued transactions in Central Government Securities’ issued by the Reserve Bank of India vide circular No. RBI/2018-19/25 dated July 24, 2018 as amended from time to time.

Government securities auction: re-issue conducted by multiple-price sale with non-competitive allocation and E-Kuber bidding. The Government announced re-issue auctions of four dated government securities through a price-based, multiple-price auction conducted by the Reserve Bank of India, with notified nominal amounts and an option to retain additional subscription for each issue. Up to five percent of each notified amount is reserved under the Non-Competitive Bidding Facility for eligible individuals and institutions. Competitive and non-competitive bids must be submitted electronically on the RBI E-Kuber system within specified time windows; results will be announced on the auction date and successful bidders will make payment on the scheduled settlement date. The securities are eligible for 'When Issued' trading under RBI guidelines.