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 FRB 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 August 26, 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 26, 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 August 26, 2022 (Friday) and payment by successful bidders will be on August 29, 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 announced: re-issues, reserved non-competitive allocation and eligibility for when-issued trading. The Government announced re-issues of four central government securities via auctions specifying auction methods (uniform price and multiple price), notified amounts, and an option to accept additional subscriptions against each security. Up to a reserved percentage of each notified amount will be allotted under the Non-Competitive Bidding Facility. Auctions will be conducted on the Reserve Bank's E-Kuber platform with prescribed submission windows for non-competitive and competitive bids; results and payment dates are fixed. The securities are eligible for When Issued trading under the central bank's guidelines.