Description

BSE announces non-competitive bidding facility for auction of two Government of India dated securities totaling Rs. 36,000 crores.

Summary

BSE has announced the availability of non-competitive bidding facility for the auction of two Government of India dated securities scheduled for August 22, 2025. The auction includes 5.91% GS 2028 (Rs. 6,000 crores) and 6.33% GS 2035 (Rs. 30,000 crores), both re-issues, with a total issue size of Rs. 36,000 crores.

Key Points

  • Two GoI dated securities available for non-competitive bidding
  • Total issue size: Rs. 36,000 crores
  • Bidding through NCB-GSec module of BSE’s iBBS web-based system
  • 24-hour bid collection availability starting August 19, 2025
  • Minimum subscription units: 100 with multiples of 100
  • Maximum bidding amount: Rs. 2 crores per security

Regulatory Changes

No new regulatory changes. This circular follows existing framework established by Exchange circular no. 20180423-42 dated April 23, 2018, for non-competitive bidding facility in government securities auctions.

Compliance Requirements

  • Trading members must use NCB-GSec module of iBBS system for bidding
  • Minimum amount: Rs. 10,000 per security
  • Maximum amount: Rs. 2 crores per security
  • Bid submission deadlines must be strictly observed
  • Settlement obligations through ICCL as per standard procedures

Important Dates

  • Bid Collection Start: August 19, 2025, 10:00 AM onwards
  • Bid Collection End (Members): August 22, 2025, 8:00 AM
  • Bid Collection End (Direct Investors): August 21, 2025, 5:00 PM
  • Auction Date: August 22, 2025
  • Settlement Date: August 25, 2025

Impact Assessment

This auction provides investment opportunity in government securities for both institutional and retail investors. The non-competitive bidding facility allows smaller investors to participate in government securities market without competing on yield. The substantial issue size of Rs. 36,000 crores indicates significant government borrowing requirement and provides liquidity to the debt market.

Impact Justification

Regular government securities auction with established procedures, affects debt market participants