The Government of India (GoI) has announced the sale (re-issue) of (i) “6.75% Government Security 2029” for a notified amount of ₹14,000 crore (nominal) through price 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 January 17, 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 17, 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 17, 2025 (Friday) and payment by successful bidders will be on January 20, 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 offered via multiple-price tender with non-competitive facility and when-issued trading eligibility. Re-issue auctions of three Central Government securities will be conducted as price-based, multiple-price tenders through the RBI E-Kuber system with competitive and non-competitive bidding; non-competitive bids receive up to five percent allotment under the Non-Competitive Bidding Facility, the issuer may retain additional subscriptions, results will be announced on the auction date and successful bidders must settle on the designated payment date, and the securities are eligible for When Issued trading per RBI guidance.