The Government of India (GoI) has announced the Sale (Re-issue) of (i) ‘3.96% Government Security, 2022’ for a notified amount of ₹ 3,000 crore (nominal) through price based auction, (ii) ‘5.15% Government Security, 2025’ for a notified amount of ₹ 12,000 crore (nominal) through price based auction,  (iii) ‘5.85% Government Security, 2030’ for a notified amount of ₹ 12,000 crore (nominal) through price based auction, and (iv) ‘GoI FRB 2033’ for a notified amount of ₹ 4,000 crore (nominal) through price based 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 March 05, 2021 (Friday) using multiple price method.

Up to 5% of the notified amount of the sale of the Securities will 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 March 05, 2021. The non-competitive bids should be submitted between 10.30 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 March 05, 2021 (Friday) and payment by successful bidders will be on March 08, 2021 (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.

Auction of government securities: price-based multiple-price sale with competitive and non-competitive bidding and when-issued trading eligibility. Auction for re-issue of central government securities will be conducted by the Reserve Bank of India using a price-based multiple price method with competitive and non-competitive bids submitted electronically on the E-Kuber platform within prescribed windows; the issuer may retain additional subscription against each security and up to five percent of each notified amount is reserved for eligible individuals and institutions under the Scheme for Non-Competitive Bidding Facility, and the securities are eligible for when-issued trading under the Reserve Bank's guidelines.