Government of India (GoI) has announced the Sale (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) ‘‘7.10% GS 2029’ for a notified amount of ₹7,000 crore (nominal) through price 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 ₹2,000 crore against each security mentioned above. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on May 27, 2022 (Friday).

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 May 27, 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 May 27, 2022 (Friday) and payment by successful bidders will be on May 30, 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 procedures set with price/multiple price methods, non-competitive allocation and e-bidding windows specified. Re-issue auctions for four central government securities will be conducted using uniform price auctions for three securities and a multiple price method for one, with the Government able to retain additional subscriptions. Up to five percent of each notified amount is reserved for eligible participants under the Non-Competitive Bidding Facility. Bids must be submitted electronically on the RBI E-Kuber system within specified windows; auction results and settlement dates will be announced, and the securities are eligible for When Issued trading under RBI guidelines.