The Government of India (GoI) has announced the sale (reissue) of (i) “7.06% Government Security 2028” for a notified amount of ₹8,000 crore (nominal) via price-based auction using uniform pricing method, (ii) “7.18% Government Security 2033” for a notified amount of ₹14,000 crore (nominal) by price-based auction using uniform price method and (iii) “7.30% Government Security 2053” for a notified amount of ₹11,000 crore (nominal) by price-based auction using multiple prices method. GoI will have the option to maintain an additional subscription up to Rs. 2,000 crore against each of the above mentioned stocks. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on 8th September 2023 (Friday).
Up to 5% of the notified amount of the sale of securities will be allocated to eligible persons and institutions under the Program for non-competitive bidding procedure in the auction of government securities.
Both competitive and non-competitive bids for the auction must be submitted electronically on the Reserve Bank of India’s Core Banking Solution (E-Kuber) system on 8 September 2023. Non-competitive offers must be submitted between 10:30 and 11:00 and competitive bids must be submitted between 10:30 a.m. and 11:30 a.m.
The result of the auctions will be announced on September 8, 2023 (Friday) and payment by successful bidders will take place on 11 September 2023 (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 in Circular No. RBI/2018-19/25 dated 24 July 2018 as amended from time to time.
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NB/VM//KMN
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