The Government of India (GoI) has announced the sale (re-issue) of (i) “7.06% Government Security 2028” for a notified amount of Rs 8,000 crore (nominal) through price based auction using uniform price method, (ii) “7.26% Government Security 2033” for a notified amount of Rs 14,000 crore (nominal) through price based auction using uniform price method and (iii) “7.36% Government Security 2052” for a notified amount of Rs 11,000 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 21, 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 April 21, 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 21, 2023 (Friday) and payment by successful bidders will be on April 24, 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 with uniform and multiple price methods, non-competitive allocation and bidding windows. Re-issue auctions for three Government securities will be held using uniform price and multiple price methods with notified amounts and a Government option to retain additional subscriptions; up to 5% of each notified amount is reserved for eligible individuals and institutions under the Scheme for Non-Competitive Bidding. Competitive and non-competitive bids must be submitted electronically via RBI's E-Kuber within prescribed time windows; auction results, payment settlement and eligibility for When Issued trading follow RBI guidelines.