The Government of India (GoI) has announced the sale (issue/ re-issue) of (i) “New Government Security 2028” for a notified amount of ₹7,000 crore (nominal) through yield based auction using uniform price method, (ii) “7.18% Government Security 2033” for a notified amount of ₹13,000 crore (nominal) through price based auction using uniform price method and (iii) “7.30% Government Security 2053” for a notified amount of ₹10,000 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 October 20, 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 October 20, 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 October 20, 2023 (Friday) and payment by successful bidders will be on October 23, 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 announced with bidding windows, allocation for non competitive bids and trading eligibility. Announcement of re issues of three central government securities with specified auction formats: yield based uniform price for New GS 2028, price based uniform price for 7.18% GS 2033, and price based multiple price for 7.30% GS 2053. Up to five percent of each notified amount is reserved under the Non Competitive Bidding Facility. Competitive and non competitive bids must be submitted electronically on the RBI E Kuber system within prescribed windows; auction results and payment dates follow the announced schedule. Securities are eligible for When Issued trading under RBI guidelines.