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In order to enable institutional and retail investors to plan their investments efficiently and to provide transparency and stability to the Government Securities market, the Government of India, in consultation with the Reserve Bank of India, hereby, notifies the indicative calendar for issuance of Government dated securities, including Sovereign Green Bonds (SGrBs), for the first half of the fiscal year 2025-26 (April 01, 2025 to September 30, 2025). The issuance calendar is as under:
Calendar for Issuance of Government of India Dated Securities | |||
(April 01, 2025 to September 30, 2025) | |||
S.No. | Auction Week | Amount in (₹crore) | Security-wise Allocation |
1 | April 01-04, 2025 | 36,000 | (i) 3 Year for ₹6,000 crore |
(ii) 10 Year for ₹30,000 crore | |||
2 | April 07-11, 2025 | 32,000 | (i) 15 Year for ₹16,000 crore |
(ii) 40 Year for ₹16,000 crore | |||
3 | April 14-18, 2025 | 30,000 | (i) 7 Year for ₹11,000 crore |
(ii) 30 Year SGrB for ₹5,000 crore | |||
(iii) 50 Year for ₹14,000 crore | |||
4 | April 21-25, 2025 | 27,000 | (i) 5 Year for ₹15,000 crore |
(ii) 30 Year for ₹12,000 crore | |||
5 | April 28 - May 02, 2025 | 36,000 | (i) 3 Year for ₹6,000 crore |
(ii) 10 Year for ₹30,000 crore | |||
6 | May 05-09, 2025 | 32,000 | (i) 15 Year for ₹16,000 crore |
(ii) 40 Year for ₹16,000 crore | |||
7 | May 12-16, 2025 | 25,000 | (i) 7 Year for ₹11,000 crore |
(ii) 50 Year for ₹14,000 crore | |||
8 | May 19-23, 2025 | 27,000 | (i) 5 Year for ₹15,000 crore |
(ii) 30 Year for ₹12,000 crore | |||
9 | May 26-30, 2025 | 36,000 | (i) 3 Year for ₹6,000 crore |
(ii) 10 Year for ₹30,000 crore | |||
10 | June 02-06, 2025 | 32,000 | (i) 15 Year for ₹16,000 crore |
(ii) 40 Year for ₹16,000 crore | |||
11 | June 09-13, 2025 | 30,000 | (i) 7 Year for ₹11,000 crore |
(ii) 30 Year SGrB for ₹5,000 crore | |||
(iii) 50 Year for ₹14,000 crore | |||
12 | June 16-20, 2025 | 27,000 | (i) 5 Year for ₹15,000 crore |
(ii) 30 Year for ₹12,000 crore | |||
13 | June 23-27, 2025 | 36,000 | (i) 3 Year for ₹6,000 crore |
(ii) 10 Year for ₹30,000 crore | |||
14 | June 30 - July 04, 2025 | 32,000 | (i) 15 Year for ₹16,000 crore |
(ii) 40 Year for ₹16,000 crore | |||
15 | July 07-11, 2025 | 25,000 | (i) 7 Year for ₹11,000 crore |
(ii) 50 Year for ₹14,000 crore | |||
16 | July 14-18, 2025 | 27,000 | (i) 5 Year for ₹15,000 crore |
(ii) 30 Year for ₹12,000 crore | |||
17 | July 21-25, 2025 | 36,000 | (i) 3 Year for ₹6,000 crore |
(ii) 10 Year for ₹30,000 crore | |||
18 | July 28 - August 01, 2025 | 32,000
| (i) 15 Year for ₹16,000 crore |
(ii) 40 Year for ₹16,000 crore | |||
19 | August 04-08, 2025 |
25,000 | (i) 7 Year for ₹11,000 crore |
(ii) 50 Year for ₹14,000 crore | |||
20 | August 11-15, 2025 |
28,000 | (i) 5 Year for ₹15,000 crore |
(ii) 30 Year for ₹13,000 crore | |||
21 | August 18-22, 2025 | 36,000 | (i) 3 Year for ₹6,000 crore |
(ii) 10 Year for ₹30,000 crore | |||
22 | August 25-29, 2025 | 32,000
| (i) 15 Year for ₹16,000 crore |
(ii) 40 Year for ₹16,000 crore | |||
23
| September 01-05, 2025
| 25,000
| (i) 7 Year for ₹11,000 crore |
(ii) 50 Year for ₹14,000 crore | |||
24 | September 08-12, 2025
| 28,000
| (i) 5 Year for ₹15,000 crore |
(ii) 30 Year for ₹13,000 crore | |||
25 | September 15-19, 2025
| 36,000 | (i) 3 Year for ₹6,000 crore |
(ii) 10 Year for ₹30,000 crore | |||
26 | September 22-26, 2025 | 32,000
| (i) 15 Year for ₹16,000 crore |
(ii) 40 Year for ₹16,000 crore | |||
| Total | 8,00,000 |
|
As hitherto, all the auctions covered by the calendar will have the facility of non-competitive bidding under which five per cent of the notified amount will be reserved for the specified retail investors.
Like in the past, the Government of India, in consultation with the Reserve Bank of India, will continue to have the flexibility to bring about modifications in the above calendar in terms of notified amount, issuance period, maturities, etc. and to issue different types of instruments, including instruments having non-standard maturity, floating rate bonds (FRBs), inflation indexed bonds (IIBs), depending upon the requirement of the Government of India, evolving market conditions and other relevant factors, after giving due notice to the market. The calendar is subject to change, if circumstances so warrant, including for reasons such as intervening holidays. Such changes shall be communicated through Press Releases.
The Government of India, in consultation with the Reserve Bank of India, reserves the right to exercise the greenshoe option to retain additional subscription up to ₹2,000 crore against each of the securities indicated in the auction notifications.
The Reserve Bank of India will also be conducting switches of dated securities through auction on the third Monday of every month or at more frequent intervals. In case the third Monday is a holiday, switch auction will be conducted on the fourth Monday of the month.
The auction of dated securities will be subject to the terms and conditions specified in the General Notification No. F.4(2)-B(W&M)/2018 dated March 26, 2025 issued by the Government of India, as amended from time to time.
Government securities issuance calendar published with retail reservation, issuance flexibility, and greenshoe option for additional subscriptions. The government published an indicative issuance calendar for dated securities April-September 2025, listing weekly auction windows and security-wise allocations including Sovereign Green Bonds. Auctions will include a non-competitive bidding facility reserving five per cent for specified retail investors. The government and the central bank may modify the calendar, amounts, maturities or instrument types and may exercise a greenshoe option to retain additional subscriptions per security. Switch auctions will occur monthly, and all auctions follow the General Notification terms. of Press 'Enter' after typing page number.
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