The Government of India (GoI) has announced the sale (issue / re-issue) of (i) “New Government Security 2031” for a notified amount of ₹10,000 crore (nominal) through yield based auction using multipleprice method, (ii) “6.92% Government Security 2039” for a notified amount of ₹12,000 crore (nominal) through price based auction using multipleprice method and (iii) “7.09% Government Security 2054” for a notified amount of ₹10,000 crore (nominal) through price based auction using multipleprice 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 27, 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 27, 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 December 27, 2024 (Friday) and payment by successful bidders will be on December 30, 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: multiple-price yield- and price-based auctions with non-competitive allocation and when-issued trading eligibility. The Government announced auctions for three central government securities using the multiple price method-one yield based and two price based-with discretionary additional subscription retention. Auctions will be conducted by the Reserve Bank of India via E Kuber, with prescribed competitive and non competitive bid windows and up to five percent of each issue reserved for the Scheme for Non Competitive Bidding Facility. Results, payment timetable, and eligibility for 'When Issued' trading follow RBI guidelines.