**Policy Summary:**
The Government of India (GoI), through the Ministry of Finance, has announced the sale (reissue) of two government securities via auction. The auction, conducted by the Reserve Bank of India (RBI) in Mumbai on August 22, 2025, will offer the following:
1. Reissue of the 5.91 Government Security 2028, with a notified amount of ₹6,000 crore nominal.
2. Reissue of the 6.33 Government Security 2035, with a notified amount of ₹30,000 crore nominal.
Both securities will be sold through a price-based auction using a multiple price method. The GoI retains the option to accept additional subscriptions of up to ₹2,000 crore for each security. Up to 5% of the notified amount will be allotted to eligible individuals and institutions via the Scheme for Non-Competitive Bidding Facility.
Bids, both competitive and non-competitive, must be submitted electronically through the RBI's e-Kuber system on August 22, 2025. Non-competitive bids are accepted between 10:30 a.m. and 11:00 a.m., while competitive bids are accepted between 10:30 a.m. and 11:30 a.m. The auction results will be announced on August 22, 2025, and payment from successful bidders is due on August 25, 2025.
These securities are eligible for When Issued (WI) trading, adhering to RBI guidelines outlined in circular No. RBI/2018-19/25, dated July 24, 2018, as amended.
Key Entities Referenced
Ministry of Finance: The ministry responsible for the auction of government securities.
5.91 GS 2028: Government Security maturing in 2028 with a coupon rate of 5.91%.
6.33 GS 2035: Government Security maturing in 2035 with a coupon rate of 6.33%.
Government of India: The issuer of the government securities being auctioned.
Reserve Bank of India: The central bank of India, responsible for conducting the auction.
Mumbai Office, Fort, Mumbai, Maharashtra: The specific office of the Reserve Bank of India where the auctions will be conducted.
Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities: A scheme that allows eligible individuals and institutions to participate in the auction of government securities on a non-competitive basis.
RBI20181925 dated July 24, 2018: Reference to a circular issued by the Reserve Bank of India regarding When Issued transactions in Central Government Securities.
Ministry of Finance
Auction for Sale (re-issue) of (i) ‘5.91% GS 2028’ and
(ii) ‘6.33% GS 2035’
Posted On: 18 AUG 2025 6:10PM by PIB Delhi
The Government of India (GoI) has announced the sale (re-issue) of (i) “5.91% Government Security 2028”
for a notified amount of ₹6,000 crore (nominal) through price based auction using multiple price method and
(ii) “6.33% Government Security 2035” for a notified amount of ₹30,000 crore (nominal) through price
based auction using multiple price method. GoI will have the option to retain additional subscription up to
₹2,000 crore against each security mentioned above. The auctions will be conducted by the Reserve Bank of
India, Mumbai Office, Fort, Mumbai on August 22, 2025 (Friday).
Up to 5% of the notified amount of the sale of the securities will be allotted to eligible individuals and
institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.
Both competitive and non-competitive bids for the auction should be submitted in electronic format on the
Reserve Bank of India Core Banking Solution (E-Kuber system) on August 22, 2025. The non-competitive
bids should be submitted between 10:30 a.m. and 11:00 a.m. and the competitive bids should be submitted
between 10:30 a.m. and 11:30 a.m.
The result of the auctions will be announced on August 22, 2025 (Friday) and payment by successful bidders
will be on August 25, 2025 (Monday).
The Securities will be eligible for “When Issued” trading in accordance with the guidelines on ‘When Issued
transactions in Central Government Securities’ issued by the Reserve Bank of India vide circular No.
RBI/2018-19/25 dated July 24, 2018 as amended from time to time.
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NB/KMN
(Release ID: 2157587)