The Government of India (GoI) has announced the sale (re-issue) of (i) “6.79% Government Security 2031” for a notified amount of ₹10,000 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 February 28, 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 28, 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 28, 2025 (Friday) and payment by successful bidders will be on March 03, 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 re-issue auction: three securities offered via multiple-price method with non-competitive allocation and when-issued trading. Re-issue auctions for three government securities will be conducted via the multiple price auction method with notified principal amounts and an option for the government to retain additional subscriptions up to a defined ceiling. Up to five percent of each issue is reserved for eligible non-competitive bidders under the Scheme for Non-Competitive Bidding Facility. Competitive and non-competitive bids must be submitted electronically on the central bank's E-Kuber system within prescribed time windows; results, payment/settlement schedules, and when-issued trading eligibility will follow the central bank's existing guidelines.