New Delhi: The Government of India has declared the re-issue of three government securities: “7.37% Government Security 2028,” with a notified amount of ₹7,000 crore through a price-based auction using the uniform price method; “7.18% Government Security 2033,” with a notified amount of ₹16,000 crore through a price-based auction using the uniform price method; and “7.30% Government Security 2053,” with a notified amount of ₹10,000 crore through a price-based auction using the multiple price method.
The government retains the option to accept additional subscriptions up to ₹2,000 crore for each security. The Reserve Bank of India, Mumbai Office, Fort, Mumbai, will conduct the auctions on December 29, 2023. Up to 5% of the notified amount will be allotted to eligible individuals and institutions as per the Scheme for Non-Competitive Bidding Facility. Bids, both competitive and non-competitive, must be submitted electronically on the Reserve Bank of India Core Banking Solution (E-Kuber) system on December 29, 2023.
Non-competitive bids are accepted between 10:30 a.m. and 11:00 a.m., while competitive bids can be submitted between 10:30 a.m. and 11:30 a.m. The auction results will be announced on December 29, 2023, and successful bidders must make payments on January 1, 2024.
The securities will be eligible for “When Issued” trading in line with the Reserve Bank of India’s guidelines on ‘When Issued transactions in Central Government Securities,’ as per circular No. RBI/2018-19/25 dated July 24, 2018, and subsequent amendments.
