Description

BSE announces non-competitive bidding facility for State Development Loans auction conducted by RBI on September 09, 2025.

Summary

BSE announces the availability of non-competitive bidding facility for State Development Loans (SDL) auction scheduled for September 09, 2025. Trading members can participate through the NCB-GSec module of BSE’s iBBS system to bid on 14 different SDL securities from various states including Bihar, Gujarat, Haryana, Jammu & Kashmir, Madhya Pradesh, Maharashtra, and Nagaland.

Key Points

  • 14 SDL securities available for auction with total issue size of Rs. 15,800 crores
  • Bid collection starts September 05, 2025 from 10:00 AM with 24-hour availability
  • Different bid collection end dates for direct investors (September 08) and members (September 09 at 8:00 AM)
  • Minimum subscription unit: Rs. 100 with minimum amount Rs. 10,000
  • Maximum bidding limits range from Rs. 1 crore to Rs. 20 crores depending on security
  • Settlement on September 10, 2025

Regulatory Changes

Continuation of existing non-competitive bidding facility launched through Exchange circular no. 20191122-28 dated November 22, 2019. No new regulatory changes introduced.

Compliance Requirements

  • Trading members must use NCB-GSec module of iBBS web-based system
  • Adherence to minimum and maximum bidding limits for each security
  • Compliance with specified bid collection timelines
  • Follow settlement procedures for September 10, 2025

Important Dates

  • Bid Collection Start: September 05, 2025 (10:00 AM onwards)
  • Bid Collection End (Direct Investors): September 08, 2025
  • Bid Collection End (Members): September 09, 2025 (8:00 AM)
  • Auction Date: September 09, 2025
  • Settlement Date: September 10, 2025

Impact Assessment

Medium impact on debt market participants as it provides structured access to state government securities auction. Affects trading members’ ability to participate in SDL market with clear parameters and deadlines. The facility enables broader participation in government securities market through BSE’s platform.

Impact Justification

Medium importance as it affects debt market trading members participating in SDL auctions with specific bidding parameters and deadlines