The Government of India (GoI) has announced the sale (issue) of (i) “NEW GOI SGrB 2028” for a notified amount of ₹4,000 Crore (nominal) through yield based auction using uniform price method and (ii) “NEW GOI SGrB 2033” for a notified amount of ₹4,000 Crore (nominal) through yield based auction using uniform 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 25, 2023 (Wednesday).

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 25, 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 25, 2023 (Wednesday) and payment by successful bidders will be on January 27, 2023 (Friday).

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: dated bonds offered by uniform-price yield auction with non-competitive bidding and when-issued trading. Yield based auctions using the uniform price method will be conducted electronically through the RBI's E Kuber system on the announced auction date; competitive and non competitive bids must be submitted within prescribed windows, up to five percent of the notified amount will be allotted under the Non Competitive Bidding Facility, the government may retain additional subscription against each security, payment by successful bidders will occur on the stated settlement date, and the securities will be eligible for When Issued trading under RBI guidelines.