Description

BSE announces non-competitive bidding facility for auction of two Government of India dated securities totaling ₹28,000 crore on October 10, 2025.

Summary

BSE has announced the availability of non-competitive bidding facility for the auction of two Government of India dated securities scheduled for October 10, 2025. The auction includes 6.68% GS 2040 (₹16,000 crore) and 6.90% GS 2065 (₹12,000 crore), both re-issues. Trading members can submit bids through the NCB-GSec module of BSE’s iBBS web-based system.

Key Points

  • Two G-secs available for auction: 6.68% GS 2040 and 6.90% GS 2065
  • Total issue size: ₹28,000 crore (₹16,000 crore + ₹12,000 crore)
  • Bidding through BSE’s iBBS web-based system (NCB-GSec module)
  • Minimum subscription: 100 units (₹10,000)
  • Maximum bid amount: ₹2 crore per security
  • Bid collection starts October 7, 2025 at 10:00 AM
  • Settlement date: October 13, 2025

Regulatory Changes

No new regulatory changes. This circular is in continuation of Exchange circular no. 20180423-42 dated April 23, 2018, regarding the launch of non-competitive bidding facility for Government Securities auctions.

Compliance Requirements

  • Trading members must submit bids through the NCB-GSec module at https://ibbs.bseindia.com
  • Members must adhere to minimum and maximum bidding limits
  • Bids must be submitted within specified timelines
  • Members must fulfill obligation and pay-in requirements as per ICCL guidelines

Important Dates

  • Bid Collection Start: October 7, 2025, 10:00 AM onwards (24-hour availability)
  • Bid Collection End (Members): October 10, 2025, 8:00 AM
  • Bid Collection End (Direct Investors): October 9, 2025, 5:00 PM
  • Auction Date: October 10, 2025
  • Settlement Date: October 13, 2025

Impact Assessment

This is a routine operational circular for debt segment participants. The non-competitive bidding facility allows trading members and investors to participate in G-sec auctions without competing on yield. The auction provides liquidity in the government securities market but has minimal impact on equity markets or general trading operations. Only members dealing in debt securities need to take action.

Impact Justification

Operational circular for routine G-sec auction process. Limited to debt segment participants with no broader market impact.