The Government of India (GoI) has announced the Sale (re-issue) of (i)“7.38%Government Security, 2027” for a notified amount of Rs 9,000 crore (nominal) through pricebased auction using uniform price method; (ii)‘‘GoI Floating Rate Bonds, 2028”for a notified amount of Rs 4,000 crore (nominal) through price based auction using uniform price method; (iii) “7.54% Government Security 2036” for a notified amount of Rs 10,000 crore (nominal) through price based auctionusing uniform price methodand (iv) “6.99% Government Security 2051” for a notified amount of Rs 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 eachsecurity mentioned above. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on July 01, 2022 (Friday).

Up to 5% of the notified amount of the sale of the Securitieswill 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 onJuly 01, 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 July 01, 2022 (Friday) and payment by successful bidders will be on July 04, 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.

Auction of government securities: re-issue offering using uniform and multiple price methods with non-competitive allocation and when issued trading eligibility. Sale re-issues of four Central Government securities are to be conducted by price-based auction (uniform price method for most and multiple price method for one), with the Government able to retain additional subscriptions, an allocation up to five percent for eligible individuals and institutions under the Scheme for Non-Competitive Bidding Facility, electronic bid submission via the Reserve Bank of India Core Banking Solution (E-Kuber) within prescribed time windows, and eligibility for When Issued trading under RBI guidelines.