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In order to enable institutional and retail investors to plan their investments efficiently and to provide transparency and stability to the Government Securities Market, the Government of India, in consultation with the Reserve Bank of India, hereby, notifies the indicative calendar for issuance of Government dated securities, including Sovereign Green Bonds (SGrB) for the second half of the fiscal year 2024-25 (October 01, 2024 to March 31, 2025). The issuance calendar is as under:
Calendar for Issuance of Government of India Dated Securities | |||
(October 01, 2024 to March 31, 2025) | |||
S.No. | Auction Week | Amount in (₹crore) | Security-wise Allocation |
1 | September 30- October 04, 2024 | 39,000 | (i) 3 year security-₹ 7,000 crore |
(ii) 10 year security-₹ 22,000 crore | |||
(iii) 50 year security-₹ 10,000 crore | |||
2 | October 07- October 11, 2024 | 29,000 | (i) 5 year security-₹ 14,000 crore |
(ii) 40 year security-₹ 15,000 crore | |||
3 | October 14- October 18, 2024 | 33,000 | (i) 7 year security-₹ 10,000 crore |
(ii) 15 year security-₹ 13,000 crore | |||
(iii) 30 year security-₹ 10,000 crore | |||
4 | October 21- October 25, 2024 | 32,000 | (i) 10 year security-₹ 22,000 crore |
(ii) 50 year security-₹ 10,000 crore | |||
5 | November 04- November 08, 2024 | 22,000 | (i) 3 year security-₹ 7,000 crore |
(ii) 40 year security -₹ 15,000 crore | |||
6 | November 11- November 15, 2024 | 37,000 | (i) 5 year security-₹ 14,000 crore |
(ii) 15 year security-₹ 13,000 crore | |||
(iii) 30 year security-₹ 10,000 crore | |||
7 | November 18- November 22, 2024 | 32,000 | (i) 10 year security-₹ 22,000 crore |
(ii) 50 year security-₹ 10,000 crore | |||
8 | November 25- November 29, 2024 | 30,000 | (i) 7 year security-₹ 10,000 crore |
(ii) 10 year SGrB-₹ 5,000 crore | |||
(iii) 40 year security-₹ 15,000 crore | |||
9 | December 02-December 06, 2024 | 30,000 | (i) 3 year security-₹7,000 crore |
(ii) 15 year security-₹ 13,000 crore | |||
(iii) 30 year security-₹ 10,000 crore | |||
10 | December 09-December 13, 2024 | 37,000 | (i) 10 year security-₹ 22,000 crore |
(ii) 30 year SGrB-₹ 5,000 crore | |||
(iii) 50 year security-₹ 10,000 crore | |||
11 | December 16-December 20, 2024 | 29,000 | (i) 5 year security-₹ 14,000 crore |
(ii) 40 year security-₹ 15,000 crore | |||
12 | December 23-December 27, 2024 | 32,000 | (i) 7 year security-₹ 10,000 crore |
(ii) 15 year security-₹ 12,000 crore | |||
(iii) 30 year security-₹ 10,000 crore | |||
13 |
December 30, 2024 -January 03, 2025 |
32,000 | (i) 10 year security-₹ 22,000 crore |
(ii) 50 year security-₹ 10,000 crore | |||
14 | January 06- January 10, 2025 |
22,000 | (i) 3 year security-₹7,000 crore |
(ii) 40 year security-₹ 15,000 crore | |||
15 | January 13- January 17, 2025 | 36,000 | (i) 5 year security-₹ 14,000 crore |
(ii) 15 year security-₹ 12,000 crore | |||
(iii) 30 year security-₹ 10,000 crore | |||
16 | January 20- January 24, 2025 | 32,000 | (i) 10 year security-₹ 22,000 crore |
(ii) 50 year security-₹ 10,000 crore | |||
17 | January 27- January 31, 2025 | 30,000 | (i) 7 year security-₹ 10,000 crore |
(ii) 10 year SGrB-₹ 5,000 crore | |||
(iii) 40 year security-₹ 15,000 crore | |||
18 | February 03- February 07, 2025 | 22,000 | (ii) 15 year security-₹ 12,000 crore |
(ii) 30 year security-₹ 10,000 crore | |||
19 | February 10- February 14, 2025 | 39,000 | (i) 3 year security-₹7,000 crore |
(ii) 10 year security-₹ 22,000 crore | |||
(iii) 50 year security-₹ 10,000 crore | |||
20 | February 17- February 21, 2025 | 34,000 | (i) 5 year security-₹ 14,000 crore |
(ii) 30 year SGrB-₹ 5,000 crore | |||
(iii) 40 year security-₹ 15,000 crore | |||
21 | February 24- February 28, 2025 | 32,000 | (i) 7 year security-₹ 10,000 crore |
(ii) 15 year security-₹ 12,000 crore | |||
(iii) 30 year security-₹ 10,000 crore | |||
| Total | 6,61,000 |
|
As hitherto, all the auctions covered by the calendar will have the facility of non-competitive bidding under which five per cent of the notified amount will be reserved for the specified retail investors.
Like in the past, the Government of India, in consultation with the Reserve Bank of India, will continue to have the flexibility to bring about modifications in the above calendar in terms of notified amount, issuance period, maturities, etc. and to issue different types of instruments, including instruments having non-standard maturity, floating rate bonds (FRBs), inflation indexed bonds (IIBs), depending upon the requirement of the Government of India, evolving market conditions and other relevant factors, after giving due notice to the market. The calendar is subject to change, if circumstances so warrant, including for reasons such as intervening holidays. Such changes shall be communicated through Press Releases.
The Government of India, in consultation with the Reserve Bank of India, reserves the right to exercise the greenshoe option to retain additional subscription up to ₹2,000 crore against each of the securities indicated in the auction notifications.
The Reserve Bank of India will also be conducting switches of dated securities through auction on the third Monday of every month or at more frequent intervals. In case the third Monday is a holiday, switch auction will be conducted on the fourth Monday of the month.
The auction of dated securities will be subject to the terms and conditions specified in the General Notification No. F.4(2)-W&M/2018 dated March 27, 2018 issued by the Government of India, as amended from time to time.
Government securities issuance calendar schedules auctions including sovereign green bonds with retail reservation and modification flexibility. The Government of India, with the Reserve Bank, issues an indicative issuance calendar for dated securities (Oct-Mar 2024-25) listing scheduled auction weeks and security-wise allocations across multiple maturities, including Sovereign Green Bonds. Each auction will permit non-competitive bidding with five per cent reserved for specified retail investors. The Government and Reserve Bank may modify amounts, maturities or instrument types, may exercise a greenshoe option to retain additional subscription per security, and will conduct switch auctions monthly; all auctions are subject to General Notification No. F.4(2)-W&M/2018.Press 'Enter' after typing page number.