The Indian government has announced two dating securities worth Rs 280,000 crore (reissuance) through an auction, conducted by the Reserve Bank of India (RBI) on September 12, 2025.
According to the official notice, the government will reissue 6.01% Government Security (GS) 2030 and 7.24% GS 2055 with a total notification amount of Rs 280,000 crore.
Of which, Rs 150 crore will be raised through 6.01% GS 2030, which will be repaid on July 21, 2030 and mature on August 18, 2055, to 7.24% GS 2055 by 2055.
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The government also retains the option of additional subscriptions that are up to Rs 20 billion against each security.
The auction will conduct multiple pricing methods at RBI’s Mumbai office. Competitive bids can be submitted between 10:30 am and 11:30 am on September 12, while non-competitive bids will be accepted between 10:30 am and 11:00 AM
The results will be announced on the same day. Successful bidders will be required to pay on September 15, 2025.
Competitive bids are primarily proposed by large institutions, citing the proceeds or prices they want to buy, and the distribution depends on the deadline decided in the auction.
Non-competitive bids are targeted at small investors and qualified institutions and do not require any yield or price citations; instead, securities are allocated at the average auction price.
Major dealers can submit bids between 9:00 a.m. and 9:30 a.m. on September 12 to cover the additional competitive underwriting (ACU) portion.
From September 9 to September 12, these securities will also meet the conditions for “issuance” transactions.
The Reserve Bank of India has clarified that both competitive and non-competitive bids should be submitted electronically through its core banking solutions (E-KUBER system). Unless there are special circumstances such as system failure, physical bids will not be accepted.
The allocation of non-competitive bids will be conducted at a weighted average rate of return/price of competitive bids. The Reserve Bank of India will decide on the cut-off rate of return or price and shall have the right to accept or reject the bid in full or partially.
