The Government of India (GoI) has announced the Sale (Re-issue) of (i) ‘5.63% Government Security, 2026’ for a notified amount of ₹ 11,000 crore (nominal) through price based auction, (ii) ‘GoI Floating Rate Bonds, 2033’ for a notified amount of ₹ 4,000 crore (nominal) through price based auction,  (iii) ‘6.64% Government Security, 2035’ for a notified amount of ₹ 10,000 crore (nominal) through price based auction,, and (iv) ‘6.67% Government Security, 2050’ for a notified amount of ₹ 7,000 crore (nominal) through price based auction. GoI will have the option to retain additional subscription up to Rs 8,000 crore against the above Security/Securities. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on May 07, 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 May 07, 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 May 07, 2021 (Friday) and payment by successful bidders will be on May 10, 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: multiple-price reissue scheduled with non-competitive allotment, E-Kuber electronic bidding, and when-issued trading eligibility. The Government offered re-issue auctions of four Government Securities using the multiple price method, with specified notified amounts and an option to accept additional subscriptions. Up to five percent of each issue is reserved for eligible investors under the Non-Competitive Bidding Facility. Competitive and non-competitive bids must be submitted electronically via the Reserve Bank's E-Kuber system within prescribed time windows; auction results, settlement timing, and eligibility for When Issued trading follow the Reserve Bank's guidelines.