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 ₹6,000 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) “7.40% Government Security 2062” 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 October 14, 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 October 14, 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 October 14, 2022 (Friday) and payment by successful bidders will be on October 17, 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.

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RM/PPG/KMN

Government securities auction announced re-issues with mixed uniform and multiple price methods and non-competitive allocation. Announcement of re-issues of four central government securities offered via price-based auctions (three by uniform price method, one by multiple price method) with a government option to accept additional subscriptions; up to a fixed proportion of each issue reserved for eligible persons under the non-competitive bidding facility; competitive and non-competitive bids to be submitted electronically on E Kuber within prescribed time windows; auction results and payment dates specified; securities eligible for 'When Issued' trading under the Reserve Bank's guidelines.