The Government of India (GoI) has announced the sale (issue/re-issue) of (i) “New Government Security 2025” for a notified amount of ₹4,000 Crore (nominal) through yield 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) “7.41% 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 January 13, 2023 (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 January 13, 2023. 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 January 13, 2023 (Friday) and payment by successful bidders will be on January 16, 2023 (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 using uniform and multiple price methods, with non-competitive allocation and when-issued trading eligibility. Issuance and re-issuance of four Central Government securities will be conducted by auction using uniform price and multiple price methods, with the Government having an option to retain additional subscriptions against each security. Up to five percent of each notified amount is reserved for eligible individuals and institutions under the non-competitive bidding scheme. Competitive and non-competitive bids are to be submitted electronically via the RBI E-Kuber system within prescribed time windows; results, payment dates and eligibility for when-issued trading follow applicable RBI guidelines.