The Government of India (GoI) has announced the sale (re-issue) of (i) “7.33% Government Security 2026” for a notified amount of ₹6,000 crore (nominal) through price based auction using multiple price method, (ii) “7.23% Government Security 2039” for a notified amount of ₹10,000 crore (nominal) through price based auction using multiple price method, and (iii) “7.34% Government Security 2064” 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 May 03, 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 May 03, 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 May 03, 2024 (Friday) and payment by successful bidders will be on May 06, 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: re-issue of multiple dated securities via price-based multiple-price method with non-competitive allotment. A re-issue auction of three Government securities will be conducted by the Reserve Bank of India using the price-based multiple price method with reserved allotment of up to five percent for the Non-Competitive Bidding Facility; the Government may retain additional subscriptions up to a stated limit for each security. Bids must be submitted electronically on E-Kuber within specified windows on the auction date, with the auction result and payment scheduled on designated subsequent dates, and the securities eligible for When Issued trading under RBI guidelines.