The Government of India (GoI) has announced the sale (re-issue) of (i) “7.06% Government Security 2028” for a notified amount of ₹8,000 crore (nominal) through price based auction using uniform price method, (ii) “7.18% Government Security 2033” for a notified amount of ₹14,000 crore (nominal) through price based auction using uniform price method and (iii) “7.30% Government Security 2053” for a notified amount of ₹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 August 25, 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 August 25, 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 August 25, 2023 (Friday) and payment by successful bidders will be on August 28, 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 of three securities via uniform and multiple price methods with non competitive allocation and E Kuber bidding. Re issue auctions announced for three government securities to be conducted by the central bank using uniform price and multiple price methods, with an option to retain additional subscription. Up to five percent of each notified amount is reserved for eligible non competitive bidders. Bids must be submitted electronically on the central bank's E Kuber system within prescribed time windows for non competitive and competitive bids. Auction results will be announced on the auction date and payment settled on a designated subsequent date. The securities are eligible for When Issued trading under the central bank's guidelines.