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) ‘5.85% Government Security, 2030’ for a notified amount of ₹ 14,000 crore (nominal) through price based auction, and (iii) ‘6.76% GS 2061’ for a notified amount of ₹ 9,000 crore (nominal) through price based auction. GoI will have the option to retain additional subscription up to Rs 6,000 crore against above security/securities. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on April 30, 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 April 30, 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 April 30, 2021 (Friday) and payment by successful bidders will be on May 03, 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.

Government securities auction via price based multiple price method permitting competitive and non competitive bids and when issued trading. The announcement sets out a re issue of Government securities to be conducted through a price based auction using the multiple price method, permitting competitive and non competitive bids submitted electronically on the central bidding platform within prescribed windows, reserving up to five percent of each notified amount for the Non Competitive Bidding Facility, and making the securities eligible for When Issued trading under existing central bank guidelines.