Auction for Sale (Issue/Re-issue) of Government Securities

Auction for Sale (Issue/Re-issue) of Government Securities

Posted On: 08 APR 2022 7:44PM by PIB Delhi

The Government of India (GoI) has announced the Sale (Issue/re-issue) of (i) ‘4.56% GS 2023’ for a notified amount of Rs 4,000 crore (nominal) through price based auction using uniform price method; (ii) ‘‘New GS 2029’ for a notified amount of Rs 7,000 crore (nominal) through yield based auction using uniform price method; (iii) ‘6.54% Government Security, 2032’ for a notified amount of Rs 13,000 crore (nominal) through price based auction using uniform price method; and (iv) ‘6.95% Government Security 2061’ for a notified amount of Rs 9,000 crore (nominal) through price based auction using multiple price method. GoI will have the option to retain additional subscription up to Rs 2,000 crore against each one or more security/ies. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on Wednesday i.e.April 13, 2022.

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 April 13, 2022. 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 April 13, 2022 (Wednesday) and payment by successful bidders will be on April 18, 2022 (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.

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RM/KMN