Auction of the Sovereign Green Bonds
Auction of the Sovereign Green Bonds
Government of India (GOI) has announced the sale (issue) of two Sovereign Green Bonds for a notified amount of ₹8,000 crore as per the following details:
2. GoI will have the option to retain additional subscription up to ₹2,000 crore against each security mentioned above.
3. The securities will be sold through Reserve Bank of India Mumbai Office, Fort, Mumbai – 400001. The sale will be subject to the terms and conditions spelt out in the ‘Specific Notification’ mentioned above and the General Notification F.No.4(2)–W&M/2018, dated March 27, 2018.
4. The auction will be conducted using uniform price method for NEW GOI SGrB 2028 and NEW GOI SGrB 2033. 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 January 25, 2023 (Wednesday). 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 will be announced on the same day and payment by successful bidders will have to be made on January 27, 2023 (Friday).
5. Bids for underwriting of the Additional Competitive Underwriting (ACU) portion can be submitted by ‘Primary Dealers’ from 09.00 a.m. up to 09:30 a.m. on January 25, 2023 (Wednesday) on the Reserve Bank of India Core Banking Solution (E-Kuber) system.
6. The Stocks will be eligible for “When Issued” trading for a period commencing from January 20 – January 25, 2023.
7. Operational guidelines for the auction and other details are given in the Annex.
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