Description

BSE announces non-competitive bidding facility for Government of India dated securities auction scheduled for November 07, 2025, for 6.48% GS 2035 security worth Rs. 32,000 crores.

Summary

BSE has announced the availability of non-competitive bidding facility for trading members and direct investors to participate in the RBI auction of Government of India dated securities scheduled for November 07, 2025. The auction will feature the re-issue of 6.48% GS 2035 security with a total issue size of Rs. 32,000 crores. Bidding will be conducted through BSE’s iBBS web-based NCB-GSec module.

Key Points

  • Security offered: 6.48% GS 2035 (Re-issue)
  • Issue size: Rs. 32,000 crores
  • Minimum subscription units: 100 (multiples thereof)
  • Minimum bid amount: Rs. 10,000
  • Maximum bid amount: Rs. 2 crores
  • Bidding platform: BSE iBBS web-based system - NCB-GSec module (https://ibbs.bseindia.com)
  • This facility is in continuation of Exchange circular no. 20180423-42 dated April 23, 2018

Regulatory Changes

No new regulatory changes. This circular implements the existing non-competitive bidding framework established in 2018 for the upcoming RBI auction announced on November 03, 2025.

Compliance Requirements

For Trading Members:

  • Submit bids through NCB-GSec module between November 04, 2025 (10:00 am) and November 07, 2025 (8:00 am)
  • Ensure compliance with minimum and maximum bidding limits
  • Complete obligation and pay-in requirements as per ICCL guidelines

For Direct Investors:

  • Submit bids between November 04, 2025 (10:00 am) and November 06, 2025 (5:00 pm)
  • Note the earlier deadline compared to trading members

Important Dates

  • November 03, 2025: RBI press release announcing auction
  • November 04, 2025, 10:00 am: Bid collection starts (24-hour availability)
  • November 06, 2025, 5:00 pm: Bid collection end for direct investors
  • November 07, 2025, 8:00 am: Bid collection end for trading members
  • November 07, 2025: Auction date
  • November 10, 2025: Settlement date

Impact Assessment

Market Impact: Low - This is a routine government securities auction notification affecting only the debt market segment. The non-competitive bidding facility provides retail investors and smaller participants access to government securities auctions.

Operational Impact: Medium for debt market participants - Trading members and direct investors interested in government securities need to prepare bids within the specified timelines. The 24-hour bidding window provides adequate flexibility for participants.

Investor Impact: The Rs. 32,000 crore issue size represents standard government borrowing operations. Investors seeking sovereign fixed-income instruments with 2035 maturity can participate through this facility with investments ranging from Rs. 10,000 to Rs. 2 crores.

Contact Information

Impact Justification

Routine government securities auction notification with standard non-competitive bidding process. Important for debt market participants but limited impact on equity markets.