Description
BSE announces non-competitive bidding facility for auction of Government of India dated security 6.48% GS 2035 worth Rs. 32,000 crore on November 07, 2025.
Summary
BSE has announced the availability of non-competitive bidding facility for the auction of Government of India dated security scheduled for November 07, 2025. Trading members and direct investors can participate in the auction of 6.48% GS 2035 (re-issue) with an issue size of Rs. 32,000 crore through the NCB-GSec module on BSE’s iBBS platform. This facility allows participants to bid without competing on price, with bids accepted at the weighted average price discovered in the competitive auction.
Key Points
- Security offered: 6.48% GS 2035 (Re-issue)
- Issue size: Rs. 32,000 crore
- Auction date: November 07, 2025
- Settlement date: November 10, 2025
- Bidding platform: BSE iBBS web-based system - NCB-GSec module (https://ibbs.bseindia.com)
- Minimum subscription: 100 units (Rs. 10,000)
- Maximum bid amount: Rs. 2 crore per bidder
- Bid collection starts: November 04, 2025 from 10:00 AM (24-hour availability)
- Security symbol: 648GS35N25
Regulatory Changes
No new regulatory changes. This circular is issued in continuation of Exchange circular no. 20180423-42 dated April 23, 2018, which introduced the non-competitive bidding facility for Government Securities auctions conducted by RBI.
Compliance Requirements
- Trading members must submit bids through the NCB-GSec module of BSE’s iBBS platform
- Members’ bid collection deadline: November 07, 2025 till 8:00 AM
- Direct investors’ bid collection deadline: November 06, 2025 till 5:00 PM
- Minimum bid amount: Rs. 10,000 (100 units)
- Maximum bid amount per entity: Rs. 2 crore
- Bids must be in multiples of 100 units
- Members must ensure timely submission of bids and settlement obligations
Important Dates
| Event | Date/Time |
|---|---|
| RBI Press Release | November 03, 2025 |
| Bid Collection Start | November 04, 2025, 10:00 AM |
| Bid Collection End (Direct Investors) | November 06, 2025, 5:00 PM |
| Bid Collection End (Trading Members) | November 07, 2025, 8:00 AM |
| Auction Date | November 07, 2025 |
| Settlement Date | November 10, 2025 |
Impact Assessment
Market Impact: This auction provides investment opportunity in long-term Government of India securities with a maturity in 2035. The non-competitive bidding facility enables retail investors and smaller institutions to participate in G-sec auctions without price discovery concerns.
Operational Impact: Trading members need to ensure their systems and processes are ready to accept bids through the NCB-GSec module. Contact points have been provided for user ID creation, password reset, bidding queries, and settlement-related matters.
Investor Impact: The facility democratizes access to primary G-sec market for investors who may not have expertise in competitive bidding. Maximum limit of Rs. 2 crore per bidder ensures wider participation while preventing concentration.
Liquidity Impact: Re-issue of existing 6.48% GS 2035 security will enhance liquidity in this particular security in the secondary market.
Impact Justification
Facilitates retail and institutional participation in G-sec auctions through non-competitive bidding mechanism. Medium impact as it provides investment opportunity in government securities worth Rs. 32,000 crore.