The Government of India (GoI) has announced the sale (issue/ re-issue) of (i) “New Government Security 2040” for a notified amount of ₹16,000 crore (nominal) through yield based auction using multiple price method and (ii) “6.90% Government Security 2065” for a notified amount of ₹16,000 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 July 04, 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 July 04, 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 July 04, 2025 (Friday) and payment by successful bidders will be on July 07, 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: yield- and price-based offerings with reserved non-competitive allocation and when-issued trading. The Government announced multiple-price auctions for New Government Security 2040 (yield-based) and 6.90% Government Security 2065 (price-based), each with notified nominal amounts and an option to retain additional subscription. Both auctions will be conducted electronically on the E-Kuber system with competitive and non-competitive bids; up to 5% of each issue is reserved for eligible individuals and institutions under the Non-Competitive Bidding Facility. Auction results will be announced the same day and securities will be eligible for When Issued trading under existing RBI guidelines.