Description
BSE announces non-competitive bidding facility for State Government Securities auction covering 9 SDL securities worth Rs. 8,450 crores.
Summary
BSE announces non-competitive bidding facility for State Government Securities (SDL) auction scheduled for August 12, 2025. The auction covers 9 SDL securities with total issue size of Rs. 8,450 crores across various states including Bihar, Gujarat, Haryana, Jammu & Kashmir, Maharashtra, and Telangana.
Key Points
- Total issue size: Rs. 8,450 crores across 9 SDL securities
- Auction date: August 12, 2025
- Settlement date: August 13, 2025
- Bidding through BSE’s iBBS web-based system NCB-GSec module
- Minimum subscription units: 100 with Rs. 10,000 minimum amount
- Mix of new issues and re-issues from multiple state governments
Regulatory Changes
No new regulatory changes. This continues the existing non-competitive bidding facility for SDL auctions as per Exchange circular dated November 22, 2019.
Compliance Requirements
- Trading members must use NCB-GSec module of iBBS system
- Direct investors: bid collection ends August 11, 2025
- Members: bid collection ends August 12, 2025 at 8:00 AM
- Minimum subscription: Rs. 10,000 in multiples of 100 units
- Maximum amounts vary by security (Rs. 1-20 crores)
Important Dates
- Bid Collection Start: August 11, 2025 from 10:00 AM (24-hour availability)
- 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
Moderate impact on debt market participants. The Rs. 8,450 crore aggregate issuance provides investment opportunities in state government securities. Impact limited to institutional investors and trading members participating in government securities market. No direct impact on equity markets or retail investors.
Impact Justification
Routine SDL auction with significant aggregate value but limited to debt market participants