The Government of India (GoI) has announced the Sale (Re-issue) of (i) ‘4.56% Government Security, 2023’ for a notified amount of ₹ 2,000 crore (nominal) through price 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. December 24, 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 December 24, 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 December 24, 2021 (Friday) and payment by successful bidders will be on December 27, 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 of multiple dated securities via uniform and multiple price methods, with non competitive allocation. Re-issue auctions of four government securities will be conducted using uniform price method for three securities and multiple price method for one; the government may accept additional subscriptions up to a stated cap and will reserve up to five percent of each notified amount for eligible non-competitive bidders. Auctions will be conducted via the RBI E-Kuber platform with specified windows for non-competitive and competitive bids; results and settlement dates are announced on the auction date and the securities are eligible for when-issued trading under RBI guidelines.