Description
BSE announces non-competitive bidding facility for auction of four Government of India dated securities totaling Rs. 32,000 crore on October 31, 2025, with bid collection starting October 28, 2025.
Summary
BSE has announced the availability of non-competitive bidding facility for the auction of four Government of India (GoI) dated securities scheduled for October 31, 2025. This follows RBI’s press release dated October 27, 2025. Trading members and direct investors can participate in the auction through BSE’s NCB-GSec module on the iBBS web-based platform. The total issue size across all four securities is Rs. 32,000 crore.
Key Points
- Four G-sec securities available for re-issue through non-competitive bidding
- Total issue size: Rs. 32,000 crore (5.91% GS 2028: Rs. 9,000 cr, 6.28% GS 2032: Rs. 11,000 cr, 7.24% GS 2055: Rs. 7,000 cr, 6.98% GOI SGrB 2054: Rs. 5,000 cr)
- Minimum subscription: 100 units (Rs. 10,000)
- Maximum subscription: Rs. 2 crore per security
- Bidding platform: BSE iBBS NCB-GSec module (https://ibbs.bseindia.com)
- Settlement on T+3 basis (November 3, 2025)
Regulatory Changes
No new regulatory changes. This circular continues the existing non-competitive bidding facility framework established through BSE circular no. 20180423-42 dated April 23, 2018.
Compliance Requirements
- Trading members must submit bids through the NCB-GSec module of BSE’s iBBS system
- Members must adhere to specified bid collection timelines
- Minimum bid amount: Rs. 10,000 (100 units)
- Maximum bid amount: Rs. 2 crore per security
- Bids must be in multiples of 100 units
Important Dates
- October 27, 2025: RBI press release announcing auction
- October 28, 2025, 10:00 AM: Bid collection starts for trading members (24-hour availability)
- October 30, 2025, 5:00 PM: Bid collection ends for direct investors
- October 31, 2025, 8:00 AM: Bid collection ends for trading members
- October 31, 2025: Auction date
- November 3, 2025: Settlement date
Impact Assessment
Market Impact: Low - This is a routine G-sec auction process that occurs regularly. The non-competitive bidding facility provides retail and smaller investors access to government securities auctions.
Operational Impact: Low - Standard operational procedure for trading members already familiar with the NCB-GSec module. No changes to existing processes.
Investor Impact: Positive for retail investors seeking to invest in government securities through the non-competitive route, providing guaranteed allocation (subject to maximum limits) without needing to participate in competitive price discovery.
Securities Details
| Security | Symbol | Type | Issue Size | Maturity |
|---|---|---|---|---|
| 5.91% GS 2028 | 591GS28O25 | Re-issue | Rs. 9,000 cr | 2028 |
| 6.28% GS 2032 | 628GS32O25 | Re-issue | Rs. 11,000 cr | 2032 |
| 7.24% GS 2055 | 724GS55O25 | Re-issue | Rs. 7,000 cr | 2055 |
| 6.98% GOI SGrB 2054 | 698GSr54O25 | Re-issue | Rs. 5,000 cr | 2054 |
Contact Information
- New user ID/password reset: Trading Operations - user.trdops@bseindia.com, 022-2272 8005/8215
- Bidding queries: Trading Operations - trading.ops@bseindia.com, 022-2272 8376/5626/8226
- Obligation & pay-in queries: ICCL Operations - Collaterals@icclindia.com, settlements@icclindia.com, 022-2272 8468/8704/8264
Impact Justification
Routine operational circular for G-sec auction process with standard bidding procedures. No market-wide impact or regulatory changes.