On December 15, 2025, the Reserve Bank of India released the results of the Conversion/Switch Auction of Government of India Securities. The source securities and their notified amounts (in crore) are as follows: 8.24% GS 2027 (2,000), 7.38% GS 2027 (2,000), 6.64% GS 2027 (2,000), 7.17% GS 2028 (3,000), 8.60% GS 2028 (3,000), and 7.59% GS 2029 (3,000).
The destination securities and their details are:
- 7.50% GS 2034: 16 offers received, total source security offered of 3,057.559 crore, 4 offers accepted, total source security accepted of 1,537.559 crore, destination security issued of 1,490.073 crore, cut-off price/yield of ₹106.01/6.5759%.
- 6.67% GS 2035: 25 offers received, total source security offered of 3,269.369 crore, 2 offers accepted, total source security accepted of 195.000 crore, destination security issued of 198.504 crore, cut-off price/yield of ₹100.51/6.5995%.
- 6.57% GS 2033: 4 offers received, total source security offered of 2,480.000 crore, 0 offers accepted, total source security accepted of 0 crore, destination security issued of 0 crore, cut-off price/yield is NA.
- 7.57% GS 2033: 29 offers received, total source security offered of 6,092.932 crore, 6 offers accepted, total source security accepted of 1,075.000 crore, destination security issued of 1,039.987 crore, cut-off price/yield of ₹105.95/6.5534%.
- 6.57% GS 2033: 28 offers received, total source security offered of 7,058.109 crore, 5 offers accepted, total source security accepted of 3,000.000 crore, destination security issued of 3,184.485 crore, cut-off price/yield of ₹100.05/6.5613%.
- 6.19% GS 2034: 17 offers received, total source security offered of 4,517.363 crore, 3 offers accepted, total source security accepted of 3,000.000 crore, destination security issued of 3,226.530 crore, cut-off price/yield of ₹97.42/6.5806%.
The press release number is 2025-2026/1702. Ajit Prasad, Deputy General Manager (Communications), is the contact person. The Department of Communication, Central Office is located at Shahid Bhagat Singh Marg, Fort, Mumbai - 400 001, and the phone number is 022 - 2266 0502. The website is www.rbi.org.in, and the email is helpdoc@rbi.org.in.
Key Entities Referenced
Government of India Securities: Subject of the conversion/switch auction result
Reserve Bank of India: Issuer of the Press Release regarding the auction
Mumbai: Location of the Central Office of the Reserve Bank of India issuing the release.