Description
BSE announces non-competitive bidding facility for SDL auction with 24 securities from various states totaling Rs. 30,600 crores.
Summary
BSE announces non-competitive bidding facility for State Government Securities (SDL) auction scheduled for September 02, 2025. The auction includes 24 securities from 14 states with total issue size of Rs. 30,600 crores. Trading members can participate through BSE’s iBBS web-based bidding platform.
Key Points
- 24 SDL securities available for bidding from 14 Indian states
- Total issue size: Rs. 30,600 crores
- Mix of new issues and re-issues
- Minimum subscription: Rs. 10,000 with Rs. 100 multiples
- Maximum individual bid limits range from Rs. 3.5 to Rs. 20 crores
- Bidding through NCB-GSec module of iBBS platform
Regulatory Changes
No new regulatory changes. This follows existing framework established by Exchange circular 20191122-28 dated November 22, 2019 for non-competitive bidding in SDL auctions.
Compliance Requirements
- Trading members must use BSE’s iBBS web-based system for bidding
- Adherence to minimum and maximum bidding limits per security
- Compliance with bid collection timelines
- Follow settlement procedures as per ICCL guidelines
Important Dates
- Bid Collection Start: September 01, 2025 from 10:00 AM (24 hours availability)
- Bid Collection End (Direct Investors): September 01, 2025
- Bid Collection End (Members): September 02, 2025 till 8:00 AM
- Auction Date: September 02, 2025
- Settlement Date: September 03, 2025
Impact Assessment
Medium impact on debt market participants. Provides investment opportunity in state government securities across multiple states with varying maturity periods (2027-2063). The auction size of Rs. 30,600 crores represents significant liquidity injection into state financing. Maharashtra re-issues indicate continued market demand for existing securities.
Impact Justification
Regular SDL auction with standard bidding process affecting debt market participants