The Government of India (GoI) has announced the sale (re-issue) of (i) “6.99% Government Security 2026” for a notified amount of Rs. 8,000 crore (nominal) through price based auction using uniform price method, (ii) “7.17% Government Security 2030” for a notified amount of Rs. 7,000 crore (nominal) through price based auction using uniform price method, (iii) “7.18% Government Security 2037” for a notified amount of Rs. 12,000 crore (nominal) through price based auction using uniform price method and (iv) “7.25% Government Security 2063” for a notified amount of Rs. 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 September 29, 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 September 29, 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 September 29, 2023 (Friday) and payment by successful bidders will be on October 03, 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 announced; price-based issuance with non-competitive allotment and electronic E-Kuber bidding, and When Issued trading eligibility. Re-issue of four Government securities will be conducted by the Reserve Bank of India through price-based auctions (uniform price for three and multiple price for one), with the Government able to retain additional subscriptions. Up to five percent of the notified amount will be allotted under the Scheme for Non-Competitive Bidding to eligible individuals and institutions. Competitive and non-competitive bids must be submitted electronically on the Reserve Bank's E-Kuber system within prescribed time windows. Auction results and payment follow the announced schedule. Securities are eligible for 'When Issued' trading under RBI guidelines.