**Summary:**
On August 22, 2025, the Reserve Bank of India (RBI) conducted an underwriting auction for Additional Competitive Underwriting (ACU) of government securities. The auction results detail the cutoff rates for underwriting commission payable to Primary Dealers.
Specifically, for the 5.91 GS 2028 security, with a notified amount of ₹6,000 crore, the Minimum Underwriting Commitment (MUC) was ₹3,003 crore and the Additional Competitive Underwriting amount was ₹2,997 crore. The underwriting commission cutoff rate was set at 0.25 paise per crore, with a total amount of ₹6,000 crore underwritten.
For the 6.33 GS 2035 security, with a notified amount of ₹30,000 crore, the MUC was ₹15,015 crore and the ACU amount was ₹14,985 crore. The underwriting commission cutoff rate was set at 0.79 paise per crore, with a total amount of ₹30,000 crore underwritten.
The auction for the sale of these securities will be held on August 22, 2025.
Further information can be obtained from the Department of Communication, Central Office, Reserve Bank of India, Shahid Bhagat Singh Marg, Fort, Mumbai – 400 001. The email address is helpdoc@rbi.org.in, and the phone number is 022-2266 0502. Additional details are available on the RBI website: www.rbi.org.in. This press release was issued by Ajit Prasad, Deputy General Manager.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for conducting the underwriting auction.
Government Securities: Debt instruments issued by the government, which are the subject of the underwriting auction.
Primary Dealers: Financial institutions that participate in the underwriting auction and receive underwriting commission.
Additional Competitive Underwriting (ACU): A mechanism for underwriting government securities.
GS 2028: Government Security maturing in 2028, with a specific amount underwritten.
GS 2035: Government Security maturing in 2035, with a specific amount underwritten.
Mumbai, Maharashtra: The city where the Reserve Bank of India's Central Office is located.
Ajit Prasad: Deputy General Manager Communications at Reserve Bank of India
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व बैंक
RESERVE BANK OF INDIA
वेबसाइट
:
www.rbi.org.in/hindi
संचार वर्भाग, केंद्रीय कायाालय, शहीद भगत ससिंह मागा, फोटा, म िंबई - 400 001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
August 22, 2025
Result of Underwriting Auction conducted on August 22, 2025
In the underwriting auction conducted on August 22, 2025, for Additional Competitive Underwriting
(ACU) of the undernoted Government securities, the Reserve Bank of India has set the cut-off rates for
underwriting commission payable to Primary Dealers as given below:
Minimum Additional
ACU
Underwriting Competitive
Total Amount Commission
Nomenclature of Notified Commitment Underwriting
underwritten Cut-off rate
the Security Amount (MUC) Amount
(₹ crore) (Paise per
(₹ crore) Amount Accepted
₹10 0)
(₹ crore) (₹ crore)
5.91% GS 2028 6,000 3,003 2,997 6,000 0.25
6.33% GS 2035 30,000 15,015 14,985 30,000 0.79
Auction for the sale of securities will be held on August 22, 2025.
Ajit Prasad
Press Release: 2025-2026/953 Deputy General Manager
(Communications)