Underwriting Auction for sale of Government Securities for ₹28,000 crore on September 18, 2026

On September 17, 2026, the Reserve Bank of India (RBI) concluded its Open Market Operations (OMO) Sale Auction. The RBI notified an aggregate amount of ₹50,000 crore (face value) for the sale. In total, participants submitted bids amounting to ₹66,590 crore, out of which the RBI accepted ₹50,000 crore as the face value for settlement.

The auction comprised various securities with different maturities: GS 2029 (coupon rate 7.59%), GS 2029 (coupon rate 6.79%), GS 2030 (coupon rate 7.61%), GS 2030 (coupon rate 5.77%), GS 2031 (coupon rate 6.68%), and GS 2032 (coupon rate 8.28%). A total of 39 bids were received for GS 2029 (7.59%), 33 bids for GS 2029 (6.79%), 26 bids for GS 2030 (7.61%), 49 bids for GS 2030 (5.77%), 52 bids for GS 2031 (6.68%), and 49 bids for GS 2032 (8.28%).

Out of the bids received, the RBI accepted 8 bids for GS 2029 (7.59%), 14 bids for GS 2029 (6.79%), 10 bids for GS 2030 (7.61%), 29 bids for GS 2030 (5.77%), 28 bids for GS 2031 (6.68%), and 35 bids for GS 2032 (8.28%). The total bid amount accepted by the RBI for each security amounted to ₹7,005 crore, ₹7,255 crore, ₹1,005 crore, ₹12,645 crore, ₹3,250 crore, and ₹18,840 crore, respectively.

The RBI determined the cut-off yield and price for each security based on the bids received. The cut-off yield and price for GS 2029 (7.59%) was 6.6007% and ₹102.25, respectively. Similarly, for GS 2029 (6.79%), the cut-off yield was 6.7023% and the cut-off price was ₹100.24. The cut-off yield and price for GS 2030 (7.61%) and (5.77%) were 6.8191% and ₹102.50, and 6.8589% and ₹96.34, respectively.

For GS 2031 (6.68%), the cut-off yield was 6.9080% and the cut-off price was ₹99.05, while for GS 2032 (8.28%), the cut-off yield was 7.0090% and the cut-off price was ₹105.63.

The weighted average yield and price across all securities were calculated to be 6.5834% and ₹102.29, respectively. Partial allotment percentages of competitive bids at the cut-off price were 68.46% for GS 2029 (7.59%), and NA for the remaining securities.

The OMO Sale Auction concluded on September 18, 2026, with all accepted bids being settled based on the cut-off prices and yields determined by the RBI.