Description

RBI announces auction of four Government of India dated securities on November 28, 2025 with non-competitive bidding facility available through BSE's NCB-GSec module.

Summary

BSE notifies trading members about the upcoming auction of four Government of India dated securities (G-secs) scheduled for November 28, 2025, as announced by RBI on November 24, 2025. The auction will include a non-competitive bidding facility available through BSE’s iBBS web-based system NCB-GSec module, allowing members and direct investors to participate in the government securities auction.

Key Points

  • Four G-secs will be auctioned with total issue size of Rs. 32,000 crores
  • Non-competitive bidding facility available through BSE’s NCB-GSec module on iBBS platform
  • Bid collection for members: November 25, 2025 (10:00 am) to November 28, 2025 (8:00 am)
  • Bid collection for direct investors: November 25, 2025 (10:00 am) to November 27, 2025 (5:00 pm)
  • All securities are re-issues with minimum subscription units of 100 (Rs. 10,000) and maximum bid amount of Rs. 2 crores
  • Settlement date: December 01, 2025

Securities Details

1. 5.91% GS 2028 (Symbol: 591GS28N25)

  • Type: G-Sec Re-issue
  • Issue Size: Rs. 9,000 crores
  • Min Amount: Rs. 10,000 | Max Amount: Rs. 2 crores

2. 6.28% GS 2032 (Symbol: 628GS32N25)

  • Type: G-Sec Re-issue
  • Issue Size: Rs. 11,000 crores
  • Min Amount: Rs. 10,000 | Max Amount: Rs. 2 crores

3. 7.24% GS 2055 (Symbol: 724GS55N25)

  • Type: G-Sec Re-issue
  • Issue Size: Rs. 7,000 crores
  • Min Amount: Rs. 10,000 | Max Amount: Rs. 2 crores

4. 6.98% GOI SGrB 2054 (Symbol: 737GSr54N24)

  • Type: G-Sec Re-issue
  • Issue Size: Rs. 5,000 crores
  • Min Amount: Rs. 10,000 | Max Amount: Rs. 2 crores

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 BSE’s iBBS web-based system NCB-GSec module (https://ibbs.bseindia.com) for submitting bids
  • Members must submit bids by November 28, 2025, 8:00 am
  • Direct investors must submit bids by November 27, 2025, 5:00 pm
  • Minimum subscription units: 100 (Rs. 10,000)
  • Maximum bid amount per security: Rs. 2 crores
  • Members must ensure timely settlement obligations for successful bids

Important Dates

  • November 24, 2025: RBI press release announcing auction
  • November 25, 2025, 10:00 am: Bid collection starts (24-hour availability)
  • November 27, 2025, 5:00 pm: Bid collection ends for direct investors
  • November 28, 2025, 8:00 am: Bid collection ends for members
  • November 28, 2025: Auction date
  • December 01, 2025: Settlement date

Impact Assessment

Market Impact: Medium - Regular government securities auction providing investment opportunities in fixed-income instruments across different maturity profiles (2028 to 2055). Total auction size of Rs. 32,000 crores contributes to government borrowing program and provides liquidity in debt markets.

Operational Impact: Low to Medium - Trading members and direct investors interested in government securities need to utilize the non-competitive bidding facility through BSE’s platform within specified timelines. The staggered bid collection end times for direct investors (November 27) versus members (November 28) require attention to different deadlines.

Investor Opportunity: Medium - The auction offers a range of maturities from medium-term (2028) to ultra-long term (2055) with coupon rates between 5.91% to 7.24%, allowing investors to choose based on their investment horizon and yield expectations.

Impact Justification

Routine government securities auction announcement affecting debt market participants and investors interested in government bonds through non-competitive bidding facility