Description

BSE announces non-competitive bidding facility for RBI auction of four Government of India dated securities totaling Rs. 32,000 crores on October 31, 2025.

Summary

BSE has announced the availability of non-competitive bidding facility for the RBI auction of four Government of India dated securities scheduled for October 31, 2025. The auction includes re-issuance of securities totaling Rs. 32,000 crores across different maturities (2028, 2032, 2054, 2055). Trading members and direct investors can participate through BSE’s iBBS web-based NCB-GSec module.

Key Points

  • Four G-Sec securities available for non-competitive bidding totaling Rs. 32,000 crores
  • 5.91% GS 2028: Rs. 9,000 crores (Re-issue)
  • 6.28% GS 2032: Rs. 11,000 crores (Re-issue)
  • 7.24% GS 2055: Rs. 7,000 crores (Re-issue)
  • 6.98% GOI SGrB 2054: Rs. 5,000 crores (Re-issue)
  • All securities have minimum subscription of 100 units with Rs. 10,000 minimum amount
  • Maximum bidding amount capped at Rs. 2 crores per security
  • Bidding through BSE’s iBBS web-based system (https://ibbs.bseindia.com)

Regulatory Changes

No new regulatory changes. This circular continues the existing non-competitive bidding facility launched via Exchange circular no. 20180423-42 dated April 23, 2018.

Compliance Requirements

  • Trading members must use the NCB-GSec module of BSE’s iBBS system for bidding
  • Members must submit bids by October 31, 2025, 8:00 AM
  • Direct investors must submit bids by October 30, 2025, 5:00 PM
  • Minimum bid amount: Rs. 10,000 per security
  • Maximum bid amount: Rs. 2 crores per security
  • Bids must be in multiples of 100 units

Important Dates

  • Bid Collection Start: October 28, 2025, 10:00 AM onwards (24-hour availability)
  • Bid Collection End (Direct Investors): October 30, 2025, 5:00 PM
  • Bid Collection End (Members): October 31, 2025, 8:00 AM
  • Auction Date: October 31, 2025
  • Settlement Date: November 3, 2025

Impact Assessment

This circular facilitates retail and institutional participation in government securities auction through non-competitive bidding. The Rs. 32,000 crore auction size is substantial and provides investment opportunities in government securities across different maturity profiles (3-year to 30-year tenors). Impact is limited to debt market participants and does not directly affect equity markets. The facility enables price discovery and liquidity in the government securities market.

Impact Justification

Routine government securities auction with standard non-competitive bidding facility. Important for debt market participants but not market-wide impact.