India to Auction ₹28,000 Crore Securities on September 12

The Indian government is set to auction two securities valued at ₹28,000 crore through the Reserve Bank of India. The auction will feature re-issuance of 6.01% GS 2030 and 7.24% GS 2055, with competitive and non-competitive bidding options. Results will be announced on the auction day.

The Indian government has announced a significant move to auction two dated securities totaling ₹28,000 crore through the Reserve Bank of India. The auction, scheduled for September 12, 2025, involves the re-issuance of the 6.01% Government Security (GS) 2030, reaching maturity on July 21, 2030, and the 7.24% GS 2055, set to mature on August 18, 2055.

The auction will be conducted under the multiple price method at the RBI's Mumbai office. Competitive bids, mainly from large institutions, can be submitted between 10:30 a.m. and 11:30 a.m., while non-competitive bids will be accepted from 10:30 a.m. to 11:00 a.m. on the same day. Payment for successful bids must be completed by September 15, 2025.

The primary dealers have a scheduled window between 9:00 a.m. and 9:30 a.m. to submit bids for underwriting the Additional Competitive Underwriting (ACU). Both competitive and non-competitive bids are to be filed through the RBI's e-Kuber system, ensuring a streamlined electronic process. The RBI reserves the right to decide on the cut-off yield or price, with non-competitive bids allotted at the weighted average rate derived from competitive bids.