The Government of India (GoI) has announced the sale (issue/reissue) of (i) “7.17% Government Security 2030” for a notified amount of ₹7,000 crores (nominal) by price-based auction using the uniform price method, (ii)”New government security 2037” for a notified amount of ₹12,000 crores (nominal) by yield-based auction using the uniform price method and (iii)”7.25% Government Security 2063” for a notified amount of ₹12,000 crores (nominal) by price-based auction using the multiple-price method. GoI will have the option to maintain an additional subscription up to Rs. 2,000 crore against each of the above securities. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on July 21, 2023 (Friday).
Up to 5% of the notified sale amount of the bonds will be allocated to individuals and institutions entitled under the Scheme for Non-competitive Bidding Facility in the Government Bond Auction.
Both competitive and non-competitive bids for the auction must be submitted electronically on the Reserve Bank of India Core Banking Solution (E-Kuber) system at July 21, 2023. Non-competitive offers must be submitted between 10:30 and 11:00 and competitive offers should be submitted between 10:30 and 11:30.
The result of the auctions will be announced on July 21, 2023 (Friday) and the payment by the winners will be active July 24, 2023 (Monday).
The Securities will be eligible for trading “When Issued” in accordance with the guidelines on “Transactions When Issued in Central Government Securities” issued by the Reserve Bank of India in its circular no. RBI/2018-19/25 of 24 July 2018 as amended from time to time.
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PPG/KMN
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