Description

BSE announces non-competitive bidding facility for auction of two Government of India dated securities (6.68% GS 2040 and 6.90% GS 2065) scheduled for December 12, 2025, with total issue size of Rs. 28,000 crores.

Summary

BSE has announced the non-competitive bidding facility for the auction of two Government of India dated securities scheduled for December 12, 2025. This follows RBI’s press release dated December 01, 2025. Trading members and direct investors can participate through BSE’s iBBS web-based NCB-GSec module for two re-issue securities: 6.68% GS 2040 (Rs. 16,000 crores) and 6.90% GS 2065 (Rs. 12,000 crores).

Key Points

  • Two G-secs available for non-competitive bidding: 6.68% GS 2040 and 6.90% GS 2065
  • Total issue size: Rs. 28,000 crores (Rs. 16,000 crores + Rs. 12,000 crores)
  • Both securities are re-issues, not new issuances
  • Bidding platform: NCB-GSec module on BSE’s iBBS web-based system (https://ibbs.bseindia.com)
  • Minimum subscription: 100 units (Rs. 10,000)
  • Maximum investment limit: Rs. 2 crores per security
  • Bid collection for members: December 09, 2025 (10:00 am) to December 12, 2025 (8:00 am)
  • Bid collection for direct investors: December 09, 2025 (10:00 am) to December 11, 2025 (5:00 pm)

Regulatory Changes

No regulatory changes introduced. This circular continues the existing non-competitive bidding facility launched through Exchange circular no. 20180423-42 dated April 23, 2018.

Compliance Requirements

No new compliance requirements. Trading members and direct investors interested in participating must:

  • Submit bids through BSE’s NCB-GSec module within specified timelines
  • Adhere to minimum subscription units of 100 (Rs. 10,000) and multiples thereof
  • Comply with maximum investment limit of Rs. 2 crores per security
  • Complete pay-in obligations as per settlement schedule

Important Dates

  • December 09, 2025: Bid collection starts at 10:00 am (24-hour availability thereafter)
  • December 11, 2025: Bid collection ends for direct investors at 5:00 pm
  • December 12, 2025: Bid collection ends for members at 8:00 am; Auction date
  • December 15, 2025: Settlement date

Impact Assessment

Market Impact: Low. This is a routine debt market operation providing retail and institutional investors access to government securities through non-competitive bidding. No impact on equity markets.

Operational Impact: Minimal. Standard auction process for debt market participants. Contact details provided for technical support (user ID creation, bidding queries) and settlement-related queries through Trading Operations and ICCL Operations teams.

Investor Impact: Provides opportunity for investors to participate in G-sec auctions without competitive price discovery, with guaranteed allotment subject to aggregate limits set by RBI.

Impact Justification

Routine operational notice for debt market participants regarding G-sec auction process. No regulatory changes or compliance obligations. Standard bidding facility with no impact on equity markets or specific stocks.