Auction of Government of India Dated Securities

The Government of India has announced the sale of four dated securities for a collective amount of ₹33,000 crore. These securities, with due dates in 2029, 2033, 2056, and 2056, will be auctioned through the Reserve Bank of India's Mumbai Office. The sale is subject to the terms outlined in specific notifications and the General Notification F.No.4(2)-B(W&M)/2018.

The auction will be conducted using the multiple price method, allowing for both competitive and non-competitive bids. Both bid types must be submitted electronically on the Reserve Bank of India's Core Banking Solution (e-Kuber system) on October 30, 2026. Non-competitive bids should be submitted between 10:30 a.m. and 11:00 a.m., while competitive bids are due between 10:30 a.m. and 11:30 a.m. The auction result and payment are expected on November 2, 2026.

Investors can also submit bids for the Additional Competitive Underwriting (ACU) portion, with the deadline for Primary Dealers being 09:30 a.m. on the same day. The securities will be eligible for "When Issued" trading commencing from October 27, 2026. The minimum bid size is ₹10,000 nominal, with subsequent multiples.

The auction will be yield-based for new securities and price-based for re-issued ones. For floating rate bonds, it will be spread-based for new securities and price-based for re-issued ones. Each investor can submit multiple competitive bids, but the total amount cannot exceed the notified auction amount. Only electronic bids are accepted, except in cases of system failure, in which case physical bids can be submitted to the Public Debt Office, Mumbai.