The Government of India (GoI) has announced the sale (re-issue) of (i) “7.17% Government Security 2030” for a notified amount of ₹7,000 crore (nominal) through price based auction using uniform price method, (ii) “7.41% Government Security 2036” for a notified amount of ₹12,000 crore (nominal) through price based auction using uniform price method and (iii) “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 28, 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 28, 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 28, 2023 (Friday) and payment by successful bidders will be on May 02, 2023 (Tuesday).    

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 sold via uniform and multiple price methods with non-competitive allocation and when-issued trading eligibility. Re-issue auctions are announced for three Government securities offered through price-based auctions (two by uniform price method; one by multiple price method), with a government option to retain additional subscriptions up to a stated amount. Up to 5% of each notified amount is reserved for eligible individuals and institutions under the Non-Competitive Bidding Facility. Competitive and non-competitive bids must be submitted electronically on the RBI E-Kuber system within specified time windows on the auction date; auction results and payment dates are published, and the securities are eligible for When Issued trading under RBI guidelines.