The Government of India (GoI) has announced the sale (re-issue) of (i) “7.32% Government Security 2030” for a notified amount of Rs. 11,000 crore (nominal) through price based auction using multiple price method and (ii) “7.30% Government Security 2053” for a notified amount of Rs. 9,000 crore (nominal) through price based auction using multiple pricemethod. GoI will have the option to retain additional subscription up to Rs. 2,000 crore against each security. The auctions will be conducted by the Reserve Bank of India, Mumbai Office on May 10, 2024 (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 10, 2024. 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 10, 2024 (Friday) and payment by successful bidders will be on May 13, 2024 (Monday).
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