The Government of India (GoI) has announced the sale (issue/ 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) “New Government Security 2053” for a notified amount of Rs 11,000 crore (nominal) through yield 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 June 16, 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 June 16, 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 June 16, 2023 (Friday) and payment by successful bidders will be on June 19, 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 using uniform and multiple price methods with non-competitive quota and electronic E Kuber bidding. Announcement of an auction for three central government securities: two re-issues via price-based uniform price auction and one new security via yield-based multiple price auction, with an option for the Government to retain additional subscriptions. Up to 5% of each notified amount is reserved for eligible applicants under the Non-Competitive Bidding Facility. The Reserve Bank of India will conduct the auctions through E Kuber; competitive and non-competitive bids must be submitted electronically within prescribed windows, and results, settlement timing and eligibility for When Issued trading are specified.