The Government of India (GoI) has announced the sale (issue/re-issue) of (i) “7.32% Government Security 2030” for a notified amount of ₹12,000 crore (nominal) through price based auction using uniform price method, (ii) “7.18% Government Security 2037” for a notified amount of ₹10,000 crore (nominal) through price 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 and (iv) “New GOI SGrB 2033” for a notified amount of ₹5,000 crore (nominal) through yield based auction using uniform price method. GoI will have the option to retain additional subscription up to ₹2,000 crore against each security mentioned above. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on December 08, 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 December 08, 2023. The non-competitive bids should be submitted between 12:30 p.m. and 01:00 p.m. and the competitive bids should be submitted between 12:30 p.m. and 01:30 p.m.

The result of the auctions will be announced on December 08, 2023 (Friday) and payment by successful bidders will be on December 11, 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 procedures set with competitive and non competitive bidding, uniform and multiple price methods. The Government announced auctions for four securities with specified notified amounts and optional additional retention; two will be price based using the uniform price method, one will use the multiple price method, and one is a yield based auction using the uniform price method. Up to five percent of each notified amount is reserved for the Scheme for Non Competitive Bidding Facility. All bids must be submitted electronically through the central bank core system within prescribed windows. Auction results, payment/settlement dates, and eligibility for when issued trading under central bank guidelines are specified.