The Government of India (GoI) has announced the Sale (re-issue) of (i) ‘6.69% Government Security 2024’ for a notified amount of Rs 4,000 crore (nominal) through price based auction using uniform price method; (ii) ‘‘7.10% Government Security 2029’ for a notified amount of Rs 7,000 crore (nominal) through price based auction using uniform price method; (iii) ‘6.54% Government Security, 2032’ for a notified amount of Rs 13,000 crore (nominal) through price based auction using uniform price method; and (iv) ‘6.95% Government Security 2061’ 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 each security mentioned above. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on July 08, 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 July 08, 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 08, 2022 (Friday) and payment by successful bidders will be on July 11, 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 of multiple dated securities using uniform and multiple price methods with non-competitive allocation. Re-issue auction of multiple Government of India securities will be conducted via electronic bids on the Reserve Bank of India's E-Kuber platform with up to five percent of each notified amount reserved for eligible participants under the non-competitive bidding facility. The Government may retain additional subscriptions against each security. Three securities will be offered using the uniform price method and one using the multiple price method; separate bid submission windows for competitive and non-competitive bids are prescribed and the securities are eligible for When Issued trading under RBI guidelines.