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 multiple price method, (ii) “6.98% GOI SGrB 2054” for a notified amount of ₹5,000 crore (nominal) through price based auction using multiple price method and (iii) “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 February 21, 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 February 21, 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 February 21, 2025 (Friday) and payment by successful bidders will be on February 24, 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.

Auction of government securities re-issued via multiple-price method, with non-competitive bidding facility and when-issued trading permitted. The Government of India will re-issue three dated government securities via price-based auctions using the multiple-price method, with an option to retain additional subscription. Up to five percent of each notified amount is reserved for eligible individuals and institutions under the Non-Competitive Bidding Facility. Bids must be submitted electronically on the Reserve Bank of India E-Kuber system within prescribed non-competitive and competitive windows; auction results and payment dates are specified. The securities will be eligible for When Issued trading under RBI guidelines.