The Government of India (GoI) has announced the sale (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. 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 January 05, 2024 (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 January 05, 2024. 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 January 05, 2024 (Friday) and payment by successful bidders will be on January 08, 2024 (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 announced: re-issue of dated bonds via uniform and multiple price methods; electronic bids accepted. The Government announced re-issue auctions of three dated securities to be conducted by the central bank, with two securities offered via the uniform price method and one via the multiple price method. The Government may retain additional subscriptions against each security. A reserved portion of each issue will be allotted to eligible individuals and institutions under the Non-Competitive Bidding Facility, while the remainder will be allotted through competitive bids. All bids must be submitted electronically on the central bank's E-Kuber system within prescribed submission windows. Auction results, payment schedules, and eligibility for When Issued trading follow the central bank's established guidelines.