The Government of India (GoI) has announced the sale (re-issue) of (i) “6.89% Government Security 2025” 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) “7.41% 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 27, 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 27, 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 27, 2023 (Friday) and payment by successful bidders will be on January 30, 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 offered via uniform and multiple price methods with non-competitive allotment and electronic bidding. Re-issue auctions for four central government securities will be conducted by the Reserve Bank of India, Mumbai Office on the announced date using price-based auctions (uniform price for three issues and multiple price for one). The Government may retain additional subscriptions up to a stated cap for each security. Up to five percent of each notified amount is reserved for eligible applicants under the Non-Competitive Bidding Facility. Competitive and non-competitive bids must be submitted electronically via E-Kuber within prescribed time windows; results will be announced on the auction date and payment by successful bidders is due on the specified settlement date. Securities are eligible for When Issued trading under RBI guidelines.