The Government of India (GoI) has announced the Sale (re-issue) of (i) ‘4.26% Government Security, 2023’ for a notified amount of ₹ 2,000 crore (nominal) through price based auction using uniform price method (ii) ‘5.63% Government Security, 2026’ for a notified amount of ₹ 6,000 crore (nominal) through price  based auction using uniform price  method (iii) ‘6.67% Government Security, 2035’ for a notified amount of ₹ 9,000 crore (nominal) through price based auction using uniform price method, and (iv) ‘6.67% Government Security, 2050’ for a notified amount of ₹ 7,000 crore (nominal) through price based auction using multiple price method. GoI will have the option to retain additional subscription up to ₹2,000 crore each against one or more security/securities.  The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on Friday i.e. October 08, 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 October 08, 2021. The non-competitive bids should be submitted between 12.30 p.m. and 1.00 p.m. and the competitive bids should be submitted between 12.30 p.m. and 1.30 p.m.   

The result of the auctions will be announced on October 08, 2021 (Friday) and payment by successful bidders will be on October 11, 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 using uniform and multiple price methods with reserved non-competitive allotment and E Kuber bidding. Re-issue auction of four central government securities will be conducted by the Reserve Bank of India using price-based auctions (uniform price for three issues; multiple price for one), with the Government able to retain additional subscription. Up to five percent of each notified issue is reserved for eligible participants under the Non-Competitive Bidding Facility. Bids must be submitted electronically on the RBI E-Kuber system within specified windows; auction results, payment, and eligibility for When Issued trading follow RBI operational guidelines.