Description
BSE announces non-competitive bidding facility for State Development Loan (SDL) securities auction scheduled for August 12, 2025.
Summary
BSE announces non-competitive bidding facility for State Development Loan (SDL) securities auction on August 12, 2025. The auction includes 9 SDL securities from various states (Bihar, Gujarat, Haryana, Jammu & Kashmir, Maharashtra, Telangana) with a total issue size of Rs. 8,450 crores. Trading members can participate through BSE’s iBBS web-based NCB-GSec module.
Key Points
- 9 SDL securities available for auction with issue sizes ranging from Rs. 100 to Rs. 2,000 crores
- Minimum subscription units: 100 with Rs. 10,000 minimum amount
- Maximum amounts vary by security from Rs. 1 crore to Rs. 20 crores
- Both new issues and re-issues included in the auction
- 24-hour bid collection availability starting August 11, 2025 at 10:00 am
Regulatory Changes
No new regulatory changes. This follows existing RBI guidelines and BSE circular 20191122-28 dated November 22, 2019 regarding non-competitive bidding facility for SDL auctions.
Compliance Requirements
- Trading members must use BSE’s iBBS web-based system NCB-GSec module for bidding
- Direct investors can bid until August 11, 2025
- Members can bid until August 12, 2025 at 8:00 am
- Standard settlement procedures apply
Important Dates
- Bid Collection Start: August 11, 2025, 10:00 am onwards
- Bid Collection End (Direct Investors): August 11, 2025
- Bid Collection End (Members): August 12, 2025, 8:00 am
- Auction Date: August 12, 2025
- Settlement Date: August 13, 2025
Impact Assessment
Routine SDL auction with moderate market impact. Provides investment opportunities in state government securities across multiple states. The Rs. 8,450 crores total issue size represents standard auction volume for debt market liquidity.
Impact Justification
Regular SDL auction process with standard procedures for debt market participants