The Government of India (GoI) has announced the Sale (Issue/re-issue) of (i) ‘6.10% Government Security, 2031’ for a notified amount of ₹ 13,000 crore (nominal) through price based auction using uniform price method;  (ii) ‘‘GoI Floating Rate Bonds, 2034’ for a notified amount of ₹ 4,000 crore (nominal) through price based auction using uniform price method; and (iii) ‘New Government Security 2061’ for a notified amount of ₹ 7,000 crore (nominal) through yield based auction using multiple price method. GoI will have the option to retain additional subscription up to Rs 2,000 crore each against one or more security/ies. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on Thursday i.e. November 18, 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 November 18, 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 November 18, 2021 (Thursday) and payment by successful bidders will be on November 22, 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 maturities offered via uniform and multiple price methods with non-competitive bidding facility. Auctions announced for three Government securities with specified auction methods: the 2031 and 2034 issues via price-based uniform price auctions, the 2061 issue via a yield-based multiple price auction; the Government may retain additional subscriptions. Up to five percent of each notified amount is reserved for the Non-Competitive Bidding Facility. Bids must be submitted electronically on the RBI E-Kuber system within prescribed windows; results will be announced on auction day and payment settled on the stated settlement date. Securities are eligible for When Issued trading as per RBI guidelines.