On November 28, 2025, the Reserve Bank of India conducted an underwriting auction for Additional Competitive Underwriting (ACU) of Government securities, setting cut-off rates for underwriting commissions payable to Primary Dealers.
The results are as follows:
* 5.91% GS 2028: Notified Amount ₹9,000 crore, Minimum Underwriting Commitment (MUC) ₹4,515 crore, Additional Competitive Underwriting Amount Accepted ₹4,485 crore, Total Amount Underwritten ₹9,000 crore, ACU Commission Cut-off rate 0.15 (Paise per ₹100).
* 6.28% GS 2032: Notified Amount ₹11,000 crore, Minimum Underwriting Commitment (MUC) ₹5,502 crore, Additional Competitive Underwriting Amount Accepted ₹5,498 crore, Total Amount Underwritten ₹11,000 crore, ACU Commission Cut-off rate 0.26 (Paise per ₹100).
* 7.24% GS 2055: Notified Amount ₹7,000 crore, Minimum Underwriting Commitment (MUC) ₹3,507 crore, Additional Competitive Underwriting Amount Accepted ₹3,493 crore, Total Amount Underwritten ₹7,000 crore, ACU Commission Cut-off rate 0.80 (Paise per ₹100).
* 6.98% GOI SGrB 2054: Notified Amount ₹5,000 crore, Minimum Underwriting Commitment (MUC) ₹2,520 crore, Additional Competitive Underwriting Amount Accepted ₹2,480 crore, Total Amount Underwritten ₹5,000 crore, ACU Commission Cut-off rate 0.89 (Paise per ₹100).
The auction for the sale of securities will be held on November 28, 2025. The press release number is 2025-2026/1575.
Contact: Ajit Prasad, Deputy General Manager (Communications).
Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai - 400 001 Phone: 022 - 2266 0502.
Website: www.rbi.org.in. Email: helpdoc@rbi.org.in
Key Entities Referenced
Reserve Bank of India: Central bank of India, conducting the underwriting auction.
Additional Competitive Underwriting (ACU): The type of underwriting being auctioned for Government securities.
Government Securities: Securities being underwritten in the auction.
Primary Dealers: Entities to whom the underwriting commission is payable.
Mumbai: Location of the Department of Communication of RBI issuing the release.
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
November 28, 2025
Result of Underwriting Auction conducted on November 28, 2025
In the underwriting auction conducted on November 28, 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
Underwritin
Competitive Commissio
g Total Amount
Nomenclature of Notified Underwriting n Cut-off
Commitmen underwritten
the Security Amount Amount rate
t (MUC) (₹crore)
(₹crore) Accepted (Paise per
Amount
(₹crore) ₹10 0)
(₹crore)
5.91% GS 2028 9,000 4,515 4,485 9,000 0.15
6.28% GS 2032 11,000 5,502 5,498 11,000 0.26
7.24% GS 2055 7,000 3,507 3,493 7,000 0.80
6.98% GOI SGrB
5,000 2,520 2,480 5,000 0.89
2054
Auction for the sale of securities will be held on November 28, 2025.
Ajit Prasad
Press Release: 2025-2026/1575 Deputy General Manager
(Communications)