The Government of India (GoI) has announced the sale (re-issue) of (i) “7.32% Government Security 2030” for a notified amount of Rs. 11,000 crore (nominal) through price based auction using multiple price method and (ii) “7.30% Government Security 2053” for a notified amount of Rs. 9,000 crore (nominal) through price based auction using multiple pricemethod. 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, Mumbaion May 10, 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 10, 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 10, 2024 (Friday) and payment by successful bidders will be on May 13, 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: price-based multiple-price method with non-competitive allotment and retention option, electronic bidding. Re-issue auction of two central Government securities via a price based auction using the multiple-price method, with GoI retaining an option to accept additional subscriptions up to a set ceiling for each security. Up to five percent of each notified amount is reserved for eligible applicants under the Non-Competitive Bidding Facility. Competitive and non-competitive bids must be submitted electronically on the RBI E-Kuber system within prescribed time windows on auction day. The securities are eligible for When Issued trading under RBI guidelines, with announced result and payment dates.