The Government of India (GoI) has announced the sale (re-issue) of (i) “7.33% Government Security 2026” for a notified amount of ₹8,000 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. 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 22, 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 22, 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 December 22, 2023 (Friday) and payment by successful bidders will be on December 26, 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: re issue announced with mixed pricing methods and non competitive allocation for eligible bidders. Re issue auctions have been announced for three central government securities with specified notified amounts and an option to retain additional subscription up to a stated cap for each. Two securities will be sold by price based uniform price auction and one by multiple price method, to be conducted by the Reserve Bank of India at its Mumbai office on the scheduled auction date. Up to five percent of each issue is reserved for eligible bidders under the Non Competitive Bidding Facility; bids must be submitted electronically on the E Kuber system within prescribed windows. Results and settlement dates are specified and the securities will be eligible for When Issued trading under RBI guidelines.