The Government of India (GoI) has announced the sale (issue/ re-issue) of (i) “6.64% Government Security 2027” for a notified amount of ₹6,000 crore (nominal) through price based auction using multiple price method and (ii) “New Government Security 2035” for a notified amount of ₹30,000 crore (nominal) through yield 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 May 02, 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 May 02, 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 May 02, 2025 (Friday) and payment by successful bidders will be on May 05, 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: price- and yield-based issues with non-competitive allocation and specified electronic bidding windows. The Government is conducting auctions for two government securities using the multiple price method-one via price-based bidding and the other via yield-based bidding-and may accept additional subscriptions against each security. Up to five percent of each notified amount is reserved for eligible participants under the Scheme for Non-Competitive Bidding Facility. Competitive and non-competitive bids must be submitted electronically through the RBI Core Banking Solution (E-Kuber) within prescribed bidding windows. Auction results, settlement date for payment, and eligibility for When Issued trading follow RBI guidelines.