Auction for Sale (re-issue) of (i) ‘7.06% GS 2028’, (ii) ‘7.26% GS 2033’ and (iii) ‘7.30% GS 2053’

The Government of India (GoI) has announced the sale (reissue) of (i) “7.06% Government Security 2028for a notified amount of ₹8,000 crore (nominal) by price-based auction using the uniform price method, (ii) “7.26% Government Security 2033” for a notified amount of ₹14,000 crore (nominal) by price-based auction using the uniform price method and (iii) “7.30% 2053 Government Bondsfor a notified amount of ₹11,000 crore (nominal) by price-based auction using the multiple-price method. GoI will have the option to maintain an additional subscription of up to Rs 2,000 crore for each of the above-mentioned titles. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on 30 June 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 on 30 June 2023. Non-competitive bids must be submitted between 10:30 and 11:00 and competitive offers must be submitted between 10:30 and 11:30.

The result of the auctions will be announced on June 30, 2023 (Friday) and the payment by the winning bidders will take place on 03 July 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