The Government of India (GoI) has announced the sale (issue/ 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) “New Government Security 2037” for a notified amount of ₹12,000 crore (nominal) through yield based auction using uniform price method and (iii) “7.25% Government Security 2063” 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 July 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 July 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 July 21, 2023 (Friday) and payment by successful bidders will be on July 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: multiple tenor issues offered via uniform and multiple price methods, with non competitive allocation and specified submission windows. The Government of India announced auctions for three government securities with specified auction methods-price based (uniform and multiple price) and yield based (uniform price)-and notified amounts, with an option to retain additional subscriptions. Up to 5% of each notified amount is reserved for eligible applicants under the Non Competitive Bidding Facility. Bids must be submitted electronically via the Reserve Bank of India's E Kuber system within prescribed non competitive and competitive windows; auction results and payment dates are set and the securities are eligible for When Issued trading under RBI guidelines.