The Government of India (GoI) has announced the sale (re-issue) of (i) “6.69% Government Security 2024” for a notified amount of ₹4,000 Crore (nominal) through price based auction using uniform price method, (ii) “7.10% Government Security 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 July 22, 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 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 am.

The result of the auctions will be announced on July 22, 2022 (Friday) and payment by successful bidders will be on July 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 securities auction re-issue using uniform and multiple price methods; non-competitive allocation and specified bidding and settlement schedule. Re-issue of Government securities will be conducted by auction using uniform price and multiple price methods; the Government may retain additional subscription. Up to five percent of each notified amount is allotted to eligible participants under the Scheme for Non-Competitive Bidding. Competitive and non-competitive bids must be submitted electronically on the RBI E-Kuber system within specified morning windows. Auction results will be announced on the auction date and successful bidders will make payment on the notified settlement date. The securities are eligible for When Issued trading per RBI guidelines.