What changed
GoI announced the re-issue of two dated securities: 6.68% GS maturing in 2040 and 7.43% GS maturing in 2076, for a total notified amount of ₹28,000 crore. The auction will be held on June 25, 2026, with settlement on June 29, 2026. GoI retains the option to accept additional subscriptions up to ₹2,000 crore per security.
What it means for you
Banks and primary dealers can bid competitively or non-competitively via e-Kuber. The multiple price method means successful competitive bids are accepted at their quoted yield/price. Non-competitive bidders get allotment at the weighted average rate. 'When Issued' trading is permitted from June 23 to June 25, 2026.
What you must do
- Submit competitive bids via e-Kuber between 10:30 AM and 11:30 AM on June 25, 2026.
- Submit non-competitive bids between 10:30 AM and 11:00 AM on the same day.
- Primary Dealers must submit ACU underwriting bids from 9:00 AM to 9:30 AM.
- Ensure payment by June 29, 2026, for successful bids.
- Note the minimum bid size of ₹10,000 and multiples thereof.
Who it affects
Banks, Primary Dealers, Eligible individual and institutional investors under the non-competitive scheme, Retail investors using RBI Retail Direct portal
What is the auction method for these securities?
The auction uses a multiple price method, where successful competitive bids are accepted at their respective quoted yield or price. For re-issued securities, the auction is price-based.
Can I bid non-competitively as an individual?
Yes, eligible individuals and institutions can bid non-competitively for up to 5% of the notified amount per security, either through a bank/PD or via the RBI Retail Direct portal.
When is the 'When Issued' trading period?
When Issued trading is permitted from June 23, 2026, to June 25, 2026, inclusive.