The Government of India (GoI) has announced the sale (re-issue) of four government securities via price-based auction using a multiple price method: (i) "5.91% Government Security 2028" for ₹9,000 crore (nominal), (ii) "6.28% Government Security 2032" for ₹11,000 crore (nominal), (iii) "7.24% Government Security 2055" for ₹7,000 crore (nominal), and (iv) "6.98% GOI SGrB 2054" for ₹5,000 crore (nominal). GoI reserves the option to retain additional subscriptions up to ₹2,000 crore for each security. The auction will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on November 28, 2025 (Friday). Up to 5% of the notified amount of the securities sale will be allotted to eligible individuals and institutions under the Scheme for Non-Competitive Bidding Facility.
Both competitive and non-competitive bids must be submitted electronically through the Reserve Bank of India Core Banking Solution (E-Kuber system) on November 28, 2025. Non-competitive bids should be submitted between 10:30 a.m. and 11:00 a.m., while competitive bids are due between 10:30 a.m. and 11:30 a.m. The auction results will be announced on November 28, 2025 (Friday), with payment due from successful bidders on December 01, 2025 (Monday). The securities are eligible for "When Issued" trading according to RBI circular No. RBI/2018-19/25 dated July 24, 2018, as amended. The announcement is from the Government of India, Ministry of Finance, Department of Economic Affairs, Budget Division, located at KARTAVYA BHAWAN-1, NEW DELHI - 110001, and is dated November 24, 2025.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for conducting the auction of government securities mentioned in the document.
Government Security: Refers to the government securities being auctioned, including “5.91% Government Security 2028”, “6.28% Government Security 2032”, “7.24% Government Security 2055” and “6.98% GOI SGrB 2054”.
Ministry of Finance: The ministry under which the Department of Economic Affairs operates, issuing the press release.
Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities: Scheme that allows eligible individuals and institutions to be allotted up to 5% of the notified amount of the sale of securities.
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, (iii) “7.24% Government Security
2055” for a notified amount of ₹7,000 crore (nominal) through price based auction
using multiple price method and (iv) “6.98% GOI SGrB 2054” for a notified amount
of ₹5,000 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 November 28, 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 November 28, 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 November 28, 2025 (Friday) and
payment by successful bidders will be on December 01, 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: November 24, 2025