The Government of India (GoI) has announced the Sale (re-issue) of
(i) ‘‘GoI Floating Rate Bonds, 2028’ for a notified amount of ₹4,000 crore (nominal) through price based auction using uniform price method; (ii) ‘6.10%  Government Security, 2031’ for a notified amount of ₹13,000 crore (nominal) through price based auction using uniform price method; and (iii) ‘6.95% Government Security 2061’ 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/ies. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on Friday i.e. December 31, 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 31, 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 31, 2021 (Friday) and payment by successful bidders will be on January 03, 2022 (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 bonds with mixed pricing methods and non-competitive allotment facility. Sale (re-issue) of three central government securities will be conducted by the Reserve Bank of India: the 2028 floating rate bond and the 2031 security via price based auctions using the uniform price method, and the 2061 security via the multiple price method. The GoI may accept additional subscriptions up to a stated limit. Up to a defined proportion of each notified amount is reserved for eligible individuals and institutions under the non competitive bidding facility. Competitive and non competitive bids are to be submitted electronically on the E Kuber system within prescribed time windows; results and payment follow on specified dates. Securities are eligible for when issued trading under RBI guidelines.