The Government of India (GoI) has announced the sale (re-issue) of (i) “7.38% Government Security 2027” for a notified amount of ₹9,000 crore (nominal) through price based auction using uniform price method, (ii) “GOI FRB 2028” for a notified amount of ₹4,000 crore (nominal) through price based auction using uniform price method  (iii) “7.54% Government Security 2036” for a notified amount of ₹11,000 crore (nominal) through price based auction using uniform price method and (iv) “7.36% Government Security 2052” for a notified amount of ₹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 September 23, 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 September 23, 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 September 23, 2022 (Friday) and payment by successful bidders will be on September 26, 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 offered via uniform and multiple price methods; non-competitive bids permitted; electronic bidding required. Re-issue auctions of four Central Government securities will be conducted using price-based methods (three via uniform price method, one via multiple price method). The Government may retain additional subscription up to a notified option. Up to 5% of each notified amount is reserved for eligible bidders under the Non-Competitive Bidding Facility. Competitive and non-competitive bids must be submitted electronically on the RBI E-Kuber system within prescribed windows on the auction date. Results and payment follow announced settlement dates, and the securities are eligible for When Issued trading per RBI guidelines.