Government of India to auction re-issuance of dated securities worth ₹32,000 crore

Traders Union
All News
Central Banks
Auction of government securities

Highlights

The Government of India will auction re-issuance of dated securities totaling ₹32,000 crore on July 10, 2026—₹21,000 crore for 6.36% GS 2031 and ₹11,000 crore for 7.71% GS 2066.
Both securities will be eligible for 'When Issued' trading from July 7 to July 10, 2026, with settlement for successful bidders on July 13, 2026.
Up to 5% allocation will be reserved for eligible investors under the non-competitive bidding facility; retail investors can bid via the Retail Direct portal, and banks and Primary Dealers can bid on behalf of their clients.

This article was translated from the original. Read the original version by our correspondent here.

Auction Structure and Timeline

According to the Reserve Bank of India press release, the sale will be conducted via the multi-price method at its Mumbai office on July 10, 2026. The notified amount is set at ₹21,000 crore for 6.36% GS 2031 and ₹11,000 crore for 7.71% GS 2066, with settlement for successful bidders scheduled for July 13, 2026.

Non-competitive bids must be submitted electronically on the RBI e-Kuber system between 10:30 AM and 11:00 AM on July 10, while competitive bids can be placed from 10:30 AM to 11:30 AM. Results will be announced the same day, and Primary Dealers can submit bids for the additional competitive underwriting portion from 9:00 AM to 9:30 AM.

Both securities will be eligible for “When Issued” trading from July 7 to July 10, 2026. The issuance will be subject to the terms and conditions specified in the relevant notification and the general notification dated March 26, 2025.

Market Participation and Investor Impact

Under the auction framework, up to 5% of the notified amount of each security will be reserved for eligible individuals and institutions under the non-competitive bidding facility. Retail investors can also bid via the Retail Direct portal, while banks and Primary Dealers will submit consolidated non-competitive bids on behalf of their clients.

The RBI has stated that, under normal circumstances, only electronic bids will be accepted, and physical bids will be considered only in exceptional cases such as system failure. Securities will be credited to the SGL or CSGL accounts of successful bidders, will be eligible for repo transactions, and non-resident investments will be subject to applicable guidelines under the Fully Accessible Route.

Our previous report on NSE's proposed IPO focused on its valuation post-DRHP, future growth drivers, and regulatory risks. The article discussed how investors are evaluating long-term growth and revenue diversification for such a large and established exchange, based on NSE's dominant market share, strong financial performance, and the impact of regulatory changes in derivatives.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.