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. January 21, 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 21, 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 21, 2022 (Friday) and payment by successful bidders will be on January 24, 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 offered via uniform and multiple price methods with non-competitive allotment and electronic bids. Sale by re-issue of multiple central government securities is announced via auctions: three securities through the uniform price auction method and one through the multiple price auction method, with an issuer option to retain additional subscription; up to five percent of each issue is reserved for eligible individuals and institutions under the Non-Competitive Bidding Facility, and all bids must be submitted electronically on the E-Kuber system within prescribed submission windows, with settlement following auction results and eligibility for When Issued trading under central bank guidelines.