The Government of India (GoI) has announced the sale (issue/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) “New Government Security 2032” for a notified amount of ₹13,000 Crore (nominal) through yield 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 August 19, 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 August 19, 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 August 19, 2022 (Friday) and payment by successful bidders will be on August 22, 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: issuance via competitive and non competitive bids with E Kuber submission and allotment rules. Announcement of auctions for four Government securities specifying that two re issues will be offered by price based uniform price auction, one new security by yield based uniform price auction, and one long dated security by price based multiple price auction; Government may retain additional subscription against each security; up to a capped portion of notified amounts is allotted under the Non Competitive Bidding Facility; bids must be submitted electronically via the RBI E Kuber system within prescribed windows; auction results, payment timeline and eligibility for When Issued trading are provided.