Description

BSE announces non-competitive bidding facility for two Government of India dated securities auction with settlement on September 8, 2025.

Summary

BSE has announced the opening of non-competitive bidding for two Government of India dated securities scheduled for auction on September 4, 2025. The securities include a re-issue of 6.28% GS 2032 worth ₹11,000 crores and 7.09% GS 2074 worth ₹14,000 crores. Trading members and direct investors can participate through BSE’s iBBS web-based bidding platform.

Key Points

  • Two G-Secs available for non-competitive bidding: 6.28% GS 2032 and 7.09% GS 2074
  • Total issue size: ₹25,000 crores (₹11,000 cr + ₹14,000 cr)
  • Minimum subscription: 100 units (₹10,000)
  • Maximum subscription: ₹2 crores per security
  • Bidding platform: BSE iBBS web-based system (https://ibbs.bseindia.com)
  • Settlement date: September 8, 2025

Regulatory Changes

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

Compliance Requirements

  • Trading members must use the NCB-GSec module of BSE’s iBBS platform for bidding
  • Members must submit bids by September 4, 2025, 8:00 AM
  • Direct investors must submit bids by September 3, 2025, 5:00 PM
  • Minimum subscription of 100 units (₹10,000) must be maintained
  • Maximum bid amount limited to ₹2 crores per security

Important Dates

  • Bid Collection Start: September 2, 2025, 10:00 AM (24-hour availability)
  • Bid Collection End (Direct Investors): September 3, 2025, 5:00 PM
  • Bid Collection End (Members): September 4, 2025, 8:00 AM
  • Auction Date: September 4, 2025
  • Settlement Date: September 8, 2025

Impact Assessment

This is a routine government securities auction with minimal market impact. The non-competitive bidding facility allows retail and institutional investors to participate without competing on price. The total issue size of ₹25,000 crores represents standard government borrowing operations. The re-issue nature of both securities ensures existing liquidity and price discovery mechanisms remain intact.

Impact Justification

Routine government securities auction announcement with standard bidding procedures