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Home News News and Press Release Month 5 2023 2023 (5) This

Auction for Sale (re-issue) of (i) 7.17% GS 2030, (ii) 7.41% GS 2036 and (iii) 7.40% GS 2062

22-5-2023
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The Government of India (GoI) has announced the sale (re-issue) of (i) “7.17% Government Security 2030” for a notified amount of Rs 7,000 crore (nominal) through price based auction using uniform price method, (ii) “7.41% Government Security 2036” for a notified amount of Rs 12,000 crore (nominal) through price based auction using uniform price method and (iii) “7.40% Government Security 2062” for a notified amount of Rs 12,000 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 security mentioned above. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on May 26, 2023 (Friday).

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 May 26, 2023. 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 May 26, 2023 (Friday) and payment by successful bidders will be on May 29, 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 vide circular No. RBI/2018-19/25 dated July 24, 2018 as amended from time to time.