Description

BSE announces non-competitive bidding facility for RBI auction of Government of India dated security 6.48% GS 2035 worth Rs. 32,000 crores on December 05, 2025.

Summary

BSE has notified trading members about the availability of non-competitive bidding facility for participating in the RBI-conducted auction of Government of India dated securities scheduled for December 05, 2025. The auction involves re-issuance of 6.48% GS 2035 security with an issue size of Rs. 32,000 crores. Members can submit bids through BSE’s iBBS web-based NCB-GSec module.

Key Points

  • Security on offer: 6.48% GS 2035 (Re-issue)
  • Issue size: Rs. 32,000 crores
  • Minimum subscription units: Rs. 10,000 in multiples of Rs. 100
  • Maximum bid amount: Rs. 2 crores per bidder
  • Bidding platform: BSE iBBS web-based system - NCB-GSec module (https://ibbs.bseindia.com)
  • Reference circular: 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 G-sec auctions.

Compliance Requirements

  • Trading members must use the designated NCB-GSec module on iBBS platform for bid submission
  • Members must adhere to minimum subscription units of Rs. 10,000 in multiples of Rs. 100
  • Maximum bid limit of Rs. 2 crores must be observed
  • Bids must be submitted within specified timelines for respective participant categories

Important Dates

  • Bid Collection Start Date: December 02, 2025 from 10:00 AM onwards (24-hour availability)
  • Bid Collection End Date (Trading Members): December 05, 2025 till 8:00 AM
  • Bid Collection End Date (Direct Investors): December 04, 2025 till 5:00 PM
  • Auction Date: December 05, 2025
  • Settlement Date: December 08, 2025

Impact Assessment

This is a routine operational notice for debt market participants. The non-competitive bidding facility allows retail and smaller institutional investors to participate in G-sec auctions without competing with larger institutional bidders. The impact is limited to debt market operations with no direct effect on equity markets. Trading members and direct investors interested in government securities can utilize this facility to participate in the auction process. Contact details for technical support, bidding queries, and settlement-related issues have been provided for smooth execution.

Impact Justification

Operational notice for debt market participants regarding routine G-sec auction process through NCB facility. Limited direct impact on equity markets.