The Government of India (GoI) has announced the sale (issue/ re-issue) of (i) “New Government Security 2026” for a notified amount of ₹8,000 crore (nominal) through yield based auction using uniform price method, (ii) “New Government Security 2030” for a notified amount of ₹7,000 crore (nominal)  through yield based auction using uniform price method, (iii) “7.41% Government Security 2036” for a notified amount of ₹12,000 crore (nominal) through price based auction using uniform price method and (iv) “7.40% Government Security 2062” for a notified amount of ₹12,000 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 April 13, 2023 (Thursday).

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 April 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 April 13, 2023 (Thursday) and payment by successful bidders will be on April 17, 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: mixed yield and price-based issues offered with competitive and non-competitive electronic bidding procedures. Announcement of an auction program for multiple central government securities using yield-based and price-based offerings under uniform-price and multiple-price methods, with the Government's option to retain additional subscriptions. Up to five percent of each issue is reserved under the Non-Competitive Bidding Facility. Electronic bids must be submitted on the designated core banking system within prescribed time windows; the central bank administers bid receipt, allocation, result announcement, and settlement. Securities are eligible for When Issued trading under existing guidelines.