The Government of India (GoI) has announced the sale (re-issue) of (i) “7.38% Government Security 2027” for a notified amount of Rs 7,000 crore (nominal) through price based auction using uniform price method, (ii) “7.26% Government Security 2032” for a notified amount of Rs 12,000 crore (nominal) through price based auction using uniform price method and (iii) “7.36% Government Security 2052” for a notified amount of Rs 9,000 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 January 20, 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 20, 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 20, 2023 (Friday) and payment by successful bidders will be on January 23, 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: re-issue using uniform and multiple price methods with non-competitive allotment facility, and specified trading and payment timelines. Auctions announced for re-issue of 7.38% GS 2027, 7.26% GS 2032 and 7.36% GS 2052, with the first two offered via price-based auction using the uniform price method and the third via multiple price method; the Government may retain additional subscriptions up to a specified limit. Up to five percent of each notified amount is allotted under the Non-Competitive Bidding Facility. Bids must be submitted electronically on the RBI E-Kuber system within stated time windows; auction results, payment date, and When Issued trading eligibility are specified.