On February 23, 2026, the Reserve Bank of India released the results of the Conversion/Switch Auction of Government of India Securities.
The notified amount of source securities, including 6.97% GS 2026, 6.97% GS 2026, 5.74% GS 2026, 8.15% GS 2026, 8.24% GS 2027 and 8.24% GS 2027, were ₹3,000 crore, ₹2,000 crore, ₹4,000 crore, ₹6,000 crore, ₹7,000 crore and ₹3,000 crore, respectively.
The destination securities include 8.32% GS 2032, 7.50% GS 2034, 7.62% GS 2039, 6.57% GS 2033, 6.57% GS 2033 and 7.40% GS 2062.
The number of offers received for each destination security were 23, 21, 6, 7, 13 and 2, respectively. The total amount of source security offered (face value, in ₹ crore) were 3,352.363, 2,410.968, 1,123.583, 5,305.000, 5,745.000 and 2,025.000, respectively. The number of offers accepted were 17, 10, 4, 6, 9 and 0, respectively. The total amount of source security accepted (face value, in ₹ crore) were 2,952.363, 1,860.968, 1,105.000, 3,805.000, 5,645.000 and 0, respectively.
The total amount of destination security issued (face value, in ₹ crore) were 2,741.429, 1,784.603, 1,051.438, 3,907.839, 5,840.185 and 0, respectively. The cut-off price (₹)/yield (%) for destination security were 108.28/6.7136, 104.96/6.7212, 105.10/7.0296, 99.03/6.7299, 99.04/6.7283 and NA, respectively.
For further information, contact Ajit Prasad, Deputy General Manager (Communications). The press release number is 2025-2026/2155. Website: www.rbi.org.in. Email: helpdoc@rbi.org.in. The phone number is 022-2266 0502. The address is Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai - 400 001.
Key Entities Referenced
Government of India Securities: Subject of the conversion/switch auction detailed in the press release.
Reserve Bank of India: The issuing authority for the press release and presumably the auctioneer.