On October 31, 2025, the Reserve Bank of India (RBI) announced the results of the underwriting auction conducted on the same date for Additional Competitive Underwriting (ACU) of government securities. The RBI has set the cut-off rates for underwriting commission payable to Primary Dealers.
The following securities were underwritten:
* 5.91% GS 2028: Notified Amount ₹9,000 crore, Minimum Underwriting Commitment (MUC) Amount ₹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) Amount ₹5,502 crore, Additional Competitive Underwriting Amount Accepted ₹5,498 crore, Total Amount underwritten ₹11,000 crore, ACU Commission Cut-off rate 0.30 Paise per ₹100
* 7.24% GS 2055: Notified Amount ₹7,000 crore, Minimum Underwriting Commitment (MUC) Amount ₹3,507 crore, Additional Competitive Underwriting Amount Accepted ₹3,493 crore, Total Amount underwritten ₹7,000 crore, ACU Commission Cut-off rate 0.67 Paise per ₹100
* 6.98% GOI SGrB 2054: Notified Amount ₹5,000 crore, Minimum Underwriting Commitment (MUC) Amount ₹2,520 crore, Additional Competitive Underwriting Amount Accepted ₹2,480 crore, Total Amount underwritten ₹5,000 crore, ACU Commission Cut-off rate 1.50 Paise per ₹100
The auction for the sale of securities will be held on October 31, 2025.
The Press Release number is 2025-2026/1421. For further information, contact Ajit Prasad, Deputy General Manager (Communications). The Department of Communication is located at Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai - 400 001. The phone number is 022 - 2266 0502. The website is www.rbi.org.in, and the email address is helpdoc@rbi.org.in.
Key Entities Referenced
Reserve Bank of India: The central bank that sets the cut-off rates for underwriting commission.
Additional Competitive Underwriting (ACU): The type of underwriting to which the auction results apply.
Primary Dealers: Entities to whom underwriting commission is payable.
Government securities: Securities that are the subject of the underwriting auction.
Mumbai: Location of the Reserve Bank of India central office.
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
October 31, 2025
Result of Underwriting Auction conducted on October 31, 2025
In the underwriting auction conducted on October 31, 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 9,000 4,515 4,485 9,000 0.15
6.28% GS 2032 11,000 5,502 5,498 11,000 0.30
7.24% GS 2055 7,000 3,507 3,493 7,000 0.67
6.98% GOI SGrB
5,000 2,520 2,480 5,000 1.50
2054
Auction for the sale of securities will be held on October 31, 2025.
Ajit Prasad
Press Release: 2025-2026/1421 Deputy General Manager
(Communications)