The Government of India has announced the sale (re-issue) of (i) "5.91% Government Security 2028" for ₹9,000 crore, (ii) "6.28% Government Security 2032" for ₹11,000 crore and (iii) "7.24% Government Security 2055" for ₹12,000 crore, all through price-based auctions using multiple price method. The auction will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on December 26, 2025 (Friday). Up to 5% of the notified amount will be allotted to eligible individuals/institutions under the Non-Competitive Bidding Facility. Bids must be submitted electronically via the Reserve Bank of India Core Banking Solution (E-Kuber system) on December 26, 2025. Non-competitive bids: 10:30 a.m. - 11:00 a.m. Competitive bids: 10:30 a.m. - 11:30 a.m. Auction results will be announced on December 26, 2025 (Friday), and payment is due December 29, 2025 (Monday). The securities are eligible for "When Issued" trading per RBI circular No. RBI/2018-19/25 dated July 24, 2018. Dated December 22, 2025.
Key Entities Referenced
Reserve Bank of India: Conducts the auction of government securities.
Government Security: The type of security being auctioned, specifically '5.91% Government Security 2028', '6.28% Government Security 2032', and '7.24% Government Security 2055'.
Scheme for Non-Competitive Bidding Facility: A scheme allowing individuals and institutions to bid for a portion of the securities.
Mumbai: Location where the auction is conducted by the Reserve Bank of India
PRESS COMMUNIQUE
Government of India (GoI) has announced the sale (re-issue) of (i) “5.91% Government
Security 2028” for a notified amount of ₹9,000 crore (nominal) through price based
auction using multiple price method, (ii) “6.28% Government Security 2032” for a
notified amount of ₹11,000 crore (nominal) through price based auction using multiple
price method and (iii) “7.24% Government Security 2055” for a notified amount of
₹12,000 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 auction will be conducted by the Reserve Bank of India,
Mumbai Office, Fort, Mumbai on December 26, 2025 (Friday).
2. 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.
3. 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 December 26, 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.
4. The result of the auction will be announced on December 26, 2025 (Friday) and
payment by successful bidders will be on December 29, 2025 (Monday).
5. 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.
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF ECONOMIC AFFAIRS
BUDGET DIVISION
KARTAVYA BHAWAN-1, NEW DELHI - 110001
Dated: December 22, 2025