Description

BSE announces non-competitive bidding facility for State Government Securities auction scheduled for August 12, 2025, with 9 SDL securities totaling Rs. 9,450 crores.

Summary

BSE announces non-competitive bidding facility for State Government Securities (SDL) auction scheduled for August 12, 2025. Trading members can participate through the NCB-GSec module of BSE’s iBBS platform. The auction includes 9 SDL securities from various states totaling Rs. 9,450 crores with settlement on August 13, 2025.

Key Points

  • 9 SDL securities available for bidding totaling Rs. 9,450 crores
  • Bidding through NCB-GSec module of iBBS web-based system
  • 24-hour bid collection availability starting August 11, 2025 at 10:00 AM
  • Different bid collection end times for direct investors vs members
  • Minimum subscription units of 100 with Rs. 10,000 minimum amount
  • Securities from Bihar, Goa, Haryana, J&K, Maharashtra, and Telangana

Regulatory Changes

No new regulatory changes. This continues the existing non-competitive bidding facility launched in November 2019 for State Government Securities auctions conducted by RBI.

Compliance Requirements

  • Trading members must use NCB-GSec module for bidding
  • Direct investors: Submit bids by August 11, 2025
  • Members: Submit bids by August 12, 2025 till 8:00 AM
  • Minimum subscription of 100 units (Rs. 10,000)
  • Maximum amounts vary by security (Rs. 1-20 crores)

Important Dates

  • Bid Collection Start: August 11, 2025 from 10:00 AM
  • Bid Collection End (Direct Investors): August 11, 2025
  • Bid Collection End (Members): August 12, 2025 till 8:00 AM
  • Auction Date: August 12, 2025
  • Settlement Date: August 13, 2025

Impact Assessment

Medium impact on debt market participants. Provides opportunity for trading members and direct investors to participate in SDL auctions through non-competitive route. Total issue size of Rs. 9,450 crores across multiple states offers diversification opportunities. Standard T+1 settlement cycle maintains market efficiency.

Impact Justification

Regular SDL auction facility for debt market participants with specific bidding timeline and settlement procedures