The Government of India (GoI) has announced the Sale (Issue/re-issue) of (i) ‘New Government Security, 2023’ for a notified amount of ₹ 2,000 crore (nominal) through yield based auction using uniform price method (ii) ‘5.74% 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) ‘6.99% Government Security, 2051’ 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. November 26, 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 26, 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 26, 2021 (Friday) and payment by successful bidders will be on November 29, 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.

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RM/KMN

Government securities auction using uniform and multiple price methods, with reserved non-competitive allocation and electronic bidding. The Government announced re-issuance of four Government Securities with specified notified amounts and auction methods: yield-based uniform price, price-based uniform price, and multiple price auctions. The Government may retain additional subscriptions up to a stated limit. Up to five percent of each notified amount is reserved for eligible individuals and institutions under the Scheme for Non-Competitive Bidding. Competitive and non-competitive bids must be submitted electronically on the Reserve Bank of India's E-Kuber system within designated intra-day windows, and the securities are eligible for When Issued trading under RBI guidelines.