The Government of India (GoI) has announced the sale (issue/ re-issue) of (i) “7.37% Government Security 2028” for a notified amount of ₹7,000 crore (nominal) through price 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) “New Government Security 2073” for a notified amount of ₹10,000 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 November 03, 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 November 03, 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 November 03, 2023 (Friday) and payment by successful bidders will be on November 06, 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: issuance and re issue scheduled using uniform and multiple price methods with non competitive quota. Announcement of public auctions for three Government of India securities: two re issues via the uniform price method and one new issue via the multiple price yield based method; the government may retain additional subscriptions against each security. Up to 5% of each notified amount is reserved for eligible individuals and institutions under the Scheme for Non Competitive Bidding. Bids must be submitted electronically on the RBI E Kuber system within prescribed windows for non competitive and competitive bids. The RBI Mumbai office will conduct the auctions on the announced date; results and payment dates are specified and the securities are eligible for when issued trading under RBI guidelines.