Description

BSE announces non-competitive bidding facility for RBI auction of two Government of India dated securities on November 14, 2025, with total issue size of Rs. 28,000 crores.

Summary

BSE has announced the availability of non-competitive bidding facility for the upcoming RBI auction of Government of India dated securities scheduled for November 14, 2025. Trading members and direct investors can participate in the auction of two G-sec securities with a combined issue size of Rs. 28,000 crores through BSE’s NCB-GSec module on the iBBS platform.

Key Points

  • Two G-sec securities available for re-issue: 6.68% GS 2040 (Rs. 16,000 crores) and 6.90% GS 2065 (Rs. 12,000 crores)
  • Bidding platform: BSE iBBS web-based system NCB-GSec module at https://ibbs.bseindia.com
  • Minimum subscription: 100 units (Rs. 10,000)
  • Maximum bid amount: Rs. 2 crores per security
  • Bid collection starts November 11, 2025 at 10:00 AM with 24-hour availability
  • Different deadlines for trading members (November 14 at 8:00 AM) and direct investors (November 13 at 5:00 PM)
  • Settlement date: November 17, 2025

Regulatory Changes

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

Compliance Requirements

  • Trading members interested in participating must submit bids through BSE’s NCB-GSec module before the deadline
  • Members must ensure bids comply with minimum (Rs. 10,000) and maximum (Rs. 2 crores) amount limits
  • Subscription must be in units of 100 or multiples thereof
  • Direct investors have an earlier cut-off time (November 13, 5:00 PM) compared to trading members

Important Dates

  • November 10, 2025: RBI press release announcing the auction
  • November 11, 2025, 10:00 AM: Bid collection starts
  • November 13, 2025, 5:00 PM: Bid collection end for direct investors
  • November 14, 2025, 8:00 AM: Bid collection end for trading members
  • November 14, 2025: Auction date
  • November 17, 2025: Settlement date

Impact Assessment

This is a routine circular with minimal market impact. It facilitates participation in government securities auction for interested debt market participants. The circular provides operational details rather than introducing new requirements. Impact is limited to:

  • Trading members and investors interested in long-term government securities (2040 and 2065 maturity)
  • Debt market segment operations only
  • No impact on equity markets or listed company securities

Contact details provided for trading operations (022-2272 8005/8215), bidding queries (022-2272 8376/5626/8226), and settlement queries (022-2272 8468/8704/8264).

Impact Justification

Routine circular providing bidding details for G-sec auction. Affects only debt market participants interested in government securities. No regulatory changes or compliance requirements for equity market participants.