The Government of India (GoI) has announced the sale (issue/re-issue) of (i) “New Government Security 2027” for a notified amount of ₹7,000 crore (nominal) through yield based auction using multiple price method, (ii) “6.92% Government Security 2039” for a notified amount of ₹13,000 crore (nominal) through price based auction using multiple price method and (iii) “7.09% Government Security 2054” for a notified amount of ₹10,000 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 06, 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 December 06, 2024. The non-competitive bids should be submitted between 12:30 p.m. and 1:00 p.m. and the competitive bids should be submitted between 12:30 p.m. and 1:30 p.m.

The result of the auctions will be announced on December 06, 2024 (Friday) and payment by successful bidders will be on December 09, 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 opens with competitive and non-competitive bids via E Kuber; allotment and When Issued trading permitted. The Government of India announced sale of three government securities through multiple price auctions-yield based for New GS 2027 and price based for GS 2039 and GS 2054-with GoI option to retain additional subscription and up to five percent of each issue reserved for eligible individuals and institutions under the Non-Competitive Bidding Facility. Auctions will be conducted by the Reserve Bank of India via the E Kuber electronic system within specified bid windows, with announced result and payment dates, and the securities are eligible for When Issued trading per RBI guidelines.