The Government of India (GoI) has announced the Sale (Issue/Re-issue) of
(i) New Government Security, 2032’ 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) ‘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 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 Friday i.e. January 14, 2022.

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 January 14, 2022. 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 January 14, 2022  (Friday) and payment by successful bidders will be on January 17, 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: three issues offered with mixed price methods, non competitive quota and electronic bidding timetable. Sale of three central government securities will be conducted by auction: two under the uniform price method and one under the multiple price method, with the issuer able to accept additional subscriptions. Up to five percent of each notified issue is reserved for eligible individuals and institutions under the Non Competitive Bidding Facility. Bids must be submitted electronically via the Reserve Bank of India E Kuber system within prescribed time windows; auction results and payment dates are scheduled. The securities qualify for when issued trading under RBI guidelines.