Description

BSE announces non-competitive bidding facility for two Government of India dated securities auction scheduled for November 21, 2025, with total issue size of Rs. 30,000 crores.

Summary

BSE has announced the availability of non-competitive bidding facility for two Government of India dated securities being auctioned by RBI on November 21, 2025. Trading members can participate through the NCB-GSec module of BSE’s iBBS web-based system. The auction covers two securities: 6.01% GS 2030 (re-issue of Rs. 18,000 crores) and 7.09% GS 2074 (re-issue of Rs. 12,000 crores).

Key Points

  • Two G-sec re-issues available: 6.01% GS 2030 (Rs. 18,000 cr) and 7.09% GS 2074 (Rs. 12,000 cr)
  • Bidding through NCB-GSec module on BSE iBBS platform (https://ibbs.bseindia.com)
  • Minimum investment amount: Rs. 10,000 per security
  • Maximum investment limit: Rs. 2 crores per security
  • Subscription in multiples of Rs. 100 after minimum amount
  • Different bid collection deadlines for members and direct investors
  • Settlement scheduled for November 24, 2025

Regulatory Changes

No new regulatory changes introduced. This circular continues the existing non-competitive bidding facility launched through BSE circular no. 20180423-42 dated April 23, 2018, allowing retail and institutional investors to participate in RBI-conducted G-sec auctions.

Compliance Requirements

For Trading Members:

  • Submit bids through NCB-GSec module by November 21, 2025, 8:00 AM
  • Ensure compliance with minimum subscription units and investment limits
  • Contact Trading Operations for new user ID creation or password reset if required
  • Coordinate with ICCL Operations for obligation and pay-in related matters

For Direct Investors:

  • Submit bids by November 20, 2025, 5:00 PM (earlier deadline than members)
  • Adhere to investment limits of minimum Rs. 10,000 and maximum Rs. 2 crores per security

Important Dates

  • November 17, 2025: RBI press release announcing the auction
  • November 18, 2025, 10:00 AM: Bid collection starts (24-hour availability)
  • November 20, 2025, 5:00 PM: Bid collection end for direct investors
  • November 21, 2025, 8:00 AM: Bid collection end for trading members
  • November 21, 2025: Auction date
  • November 24, 2025: Settlement date

Impact Assessment

Market Impact: Medium - Provides liquidity and investment opportunity in government securities market with combined issue size of Rs. 30,000 crores. The re-issue nature indicates continued government borrowing through existing securities.

Investor Impact: Positive for retail and institutional investors seeking safe government-backed fixed-income instruments with attractive yields (6.01% for 5-year and 7.09% for 49-year tenures).

Operational Impact: Trading members need to coordinate bid submissions through BSE’s iBBS platform within specified timelines. The 24-hour bid collection window provides flexibility, but members must ensure timely submission before the 8:00 AM deadline on auction day.

Contact Points: BSE has provided specific teams and contact details for user ID issues (Trading Operations: 022-2272 8005/8215), bidding queries (022-2272 8376/5626/8226), and settlement matters (ICCL Operations: 022-2272 8468/8704/8264).

Impact Justification

Medium importance as it provides opportunity for trading members and investors to participate in G-sec auction through non-competitive bidding. Impact is moderate, affecting only those interested in government securities investment with specific investment limits.