The Government of India (GoI) has announced the Sale (re-issue) of (i) “5.74% Government Security, 2026” for a notified amount of ₹ 9,000 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; (iii) “6.67% Government Security 2035” for a notified amount of ₹ 10,000 crore (nominal) through price based auction using uniform price method and (iv) “6.99% Government Security 2051” 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 security mentioned above. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on Friday i.e. April 22, 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 22, 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 22, 2022 (Friday) and payment by successful bidders will be on April 25, 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 security auction open to competitive and non competitive bids via e Kuber, with allocation and when issued trading rules. The Government of India announced re-issues of four Government securities to be sold by auction using uniform price and multiple price methods, with the Government retaining the option to accept additional subscriptions. A portion of each notified amount is reserved for eligible applicants under the Scheme for Non-Competitive Bidding Facility. Both competitive and non-competitive bids must be submitted electronically on the Reserve Bank of India's E Kuber system within prescribed windows. Auction results and payment/settlement will follow the announced timetable. The securities are eligible for When Issued trading under RBI guidelines.