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 price based 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 11,000 crore (nominal) through price based auction using uniform price method and (iv) “6.99% Government Security 2051” for a notified amount of Rs 8,000 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 29, 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 29, 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 29, 2022 (Friday) and payment by successful bidders will be on August 01, 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 dated bonds via uniform and multiple price methods with non-competitive quota. Re-issue auctions announced for four Government securities with specified notified nominal amounts, primarily via price based auctions using the uniform price method, and one via the multiple price method; the Government may retain additional subscription against each security. Up to five percent of each notified amount is reserved for eligible individuals and institutions under the Non-Competitive Bidding facility. Competitive and non-competitive bids must be submitted electronically on E-Kuber within prescribed windows. Auction results, payment timing, and eligibility for When Issued trading under RBI guidelines are specified.