The Government of India (GoI) has announced the Sale (re-issue) of (i) ‘4.26% Government Security, 2023’ for a notified amount of ₹ 3,000 crore (nominal) through price based auction using uniform price method (ii) ‘6.10% Government Security, 2031’ for a notified amount of ₹ 14,000 crore (nominal) through price based auction using uniform price method; and (iii) ‘6.76% Government Security 2061’ for a notified amount of ₹ 9,000 crore (nominal) through price based auction using multiple price method. 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 Friday i.e. September 03, 2021.

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 September 03, 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 September 03, 2021 (Friday) and payment by successful bidders will be on September 06, 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: re-issue offered with mixed pricing methods and reserved non-competitive allocation. The Government announced re-issue auctions of three Government securities using uniform price and multiple price methods, including a Government option to retain additional subscription and an allocation of up to five percent for eligible bidders under the Non-Competitive Bidding Facility. Competitive and non-competitive bids must be submitted electronically on the Reserve Bank of India's E-Kuber platform within prescribed windows on the auction day; results and payment occur on specified dates. The securities are eligible for When Issued trading in accordance with the Reserve Bank's guidelines.