Description

BSE announces non-competitive bidding facility for three GoI dated securities auction scheduled for December 26, 2025, with total issue size of Rs. 32,000 crores.

Summary

BSE has announced the availability of non-competitive bidding facility for the auction of three Government of India dated securities scheduled for December 26, 2025. This follows the RBI press release dated December 22, 2025. Trading members can participate through the NCB-GSec module of BSE’s iBBS web-based system. The three securities being auctioned are 5.91% GS 2028, 6.28% GS 2032, and 7.24% GS 2055 with a combined issue size of Rs. 32,000 crores.

Key Points

  • Three GoI dated securities (G-secs) available for auction on December 26, 2025
  • All three are re-issues with total combined size of Rs. 32,000 crores
  • Non-competitive bidding facility available through BSE’s iBBS platform (NCB-GSec module)
  • Minimum subscription units: 100 (Rs. 10,000)
  • Maximum bidding amount: Rs. 2 crores per security
  • Bid collection starts December 23, 2025 from 10:00 AM
  • Different bid collection end times for members (Dec 26, 8:00 AM) and direct investors (Dec 25, 5:00 PM)
  • Settlement date: December 29, 2025

Securities Details

5.91% GS 2028 (Symbol: 591GS28D25)

  • Type: G-Sec Re-issue
  • Issue Size: Rs. 9,000 crores
  • Min Subscription: 100 units (Rs. 10,000)
  • Max Amount: Rs. 2 crores

6.28% GS 2032 (Symbol: 628GS32D25)

  • Type: G-Sec Re-issue
  • Issue Size: Rs. 11,000 crores
  • Min Subscription: 100 units (Rs. 10,000)
  • Max Amount: Rs. 2 crores

7.24% GS 2055 (Symbol: 724GS55D25)

  • Type: G-Sec Re-issue
  • Issue Size: Rs. 12,000 crores
  • Min Subscription: 100 units (Rs. 10,000)
  • Max Amount: Rs. 2 crores

Regulatory Changes

No new regulatory changes. This circular continues the existing non-competitive bidding facility framework as per Exchange circular no. 20180423-42 dated April 23, 2018.

Compliance Requirements

  • Trading members must submit bids through the NCB-GSec module of BSE’s iBBS platform at https://ibbs.bseindia.com
  • Members must adhere to the specified bid collection timelines
  • Minimum bid amount: Rs. 10,000 (100 units)
  • Maximum bid amount per security: Rs. 2 crores
  • Direct investors have earlier cutoff (December 25, 5:00 PM) compared to members (December 26, 8:00 AM)

Important Dates

  • December 22, 2025: RBI press release announcing auction
  • December 23, 2025, 10:00 AM: Bid collection starts (24-hour availability)
  • December 25, 2025, 5:00 PM: Bid collection end for direct investors
  • December 26, 2025, 8:00 AM: Bid collection end for trading members
  • December 26, 2025: Auction date
  • December 29, 2025: Settlement date

Impact Assessment

Market Impact: Medium - This is a substantial Rs. 32,000 crore G-sec auction that will impact liquidity in the debt market. The re-issuance of three securities across different maturity profiles (2028, 2032, 2055) provides investment options for various investor categories.

Operational Impact: Trading members participating in debt market operations need to ensure timely bid submission through the NCB-GSec module. The non-competitive bidding facility allows retail and smaller investors to participate in government securities auctions without competing on price.

Contact Information:

Impact Justification

Regular scheduled G-sec auction with standard non-competitive bidding facility. Important for debt market participants and institutional investors but routine in nature.