The Government of India (GoI) has announced the sale (re-issue) of (i) “6.64% Government Security 2027” for a notified amount of ₹7,000 crore (nominal) through price based auction using multiple price method and (ii) “7.34% Government Security 2064” for a notified amount of ₹15,000 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 January 10, 2025 (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 January 10, 2025. 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 January 10, 2025 (Friday) and payment by successful bidders will be on January 13, 2025 (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 two dated securities via multiple-price method with non-competitive allotment provisions. The Government of India will re-issue two dated government securities via a multiple price auction, with an option to retain additional subscriptions; up to five percent of each notified amount will be allotted to eligible individuals and institutions under the Scheme for Non-Competitive Bidding. Both competitive and non-competitive bids must be submitted electronically on the E Kuber system within specified windows on the auction date. Auction results, payment timing, and eligibility for When Issued trading follow existing RBI guidelines.