The Government of India (GoI) has announced the Sale (Issue/re-issue) of (i) ‘4.56% GS 2023’ for a notified amount of ₹ 4,000 crore (nominal) through price based auction using uniform price method; (ii) ‘‘New GS 2029’ for a notified amount of ₹ 7,000 crore (nominal) through yield based auction using uniform price method; (iii) ‘6.54% Government Security, 2032’ for a notified amount of ₹ 13,000 crore (nominal) through price based auction using uniform price method; and (iv) ‘6.95% Government Security 2061’ for a notified amount of ₹ 9,000 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 against each one or more security/ies. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on Wednesday i.e.April 13, 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 April 13, 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 April 13, 2022 (Wednesday) and payment by successful bidders will be on April 18, 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 allocates multiple tenors via uniform and multiple price methods; non-competitive bids accepted. Announcement of auctions for multiple Central Government securities detailing that instruments will be issued through a combination of price-based and yield-based auctions using uniform and multiple price methods; the government may retain additional subscriptions; up to five percent of each issue is reserved for eligible participants under the non-competitive bidding scheme; competitive and non-competitive bids must be submitted electronically via RBI's E Kuber within prescribed windows; auction results, payment schedules, and eligibility for when-issued trading per RBI guidelines are specified.