Description

BSE announces non-competitive bidding facility for RBI's auction of three Government of India dated securities totaling Rs. 33,000 crores on January 23, 2026.

Summary

BSE has announced the availability of non-competitive bidding facility for the RBI auction of three Government of India dated securities scheduled for January 23, 2026. Trading members and direct investors can submit bids through BSE’s iBBS web-based NCB-GSec module for three re-issue G-secs totaling Rs. 33,000 crores with settlement on January 27, 2026.

Key Points

  • Three G-secs available for auction: New GS 2029 (Rs. 9,000 cr), New GS 2033 (Rs. 11,000 cr), and 7.24% GS 2055 (Rs. 13,000 cr)
  • All three securities are re-issues of existing G-secs
  • Bidding through BSE’s iBBS platform NCB-GSec module at https://ibbs.bseindia.com
  • Minimum subscription unit: 100 units (Rs. 10,000)
  • Maximum bid amount: Rs. 2 crores per security
  • Bid collection operates on 24-hour availability basis
  • Different bid collection deadlines for members and direct investors

Regulatory Changes

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

Compliance Requirements

  • Trading members must submit bids through the designated NCB-GSec module on iBBS platform
  • Members must adhere to minimum subscription units of 100 and multiples thereof
  • Minimum bid amount: Rs. 10,000 per security
  • Maximum bid amount: Rs. 2 crores per security
  • Members must comply with obligation and pay-in requirements as per ICCL guidelines

Important Dates

  • January 20, 2026, 10:00 AM: Bid collection starts (24-hour availability begins)
  • January 22, 2026, 5:00 PM: Bid collection end for direct investors
  • January 23, 2026, 8:00 AM: Bid collection end for trading members
  • January 23, 2026: Auction date
  • January 27, 2026: Settlement date

Impact Assessment

Market Impact: Medium - Provides liquidity avenue for debt market participants to invest in government securities totaling Rs. 33,000 crores. The non-competitive bidding route enables smaller investors and trading members to participate in G-sec auctions without competing on yields.

Operational Impact: Trading members using the NCB-GSec facility need to ensure timely bid submissions before the January 23, 2026 8:00 AM deadline. Direct investors have an earlier cutoff of January 22, 2026 at 5:00 PM. Members should coordinate with BSE Trading Operations and ICCL for any queries related to bidding, user access, or settlement obligations.

Participant Impact: The auction covers three different maturity profiles (2029, 2033, and 2055), offering investment options across short, medium, and long-term horizons for debt portfolio diversification.

Impact Justification

Routine G-sec auction announcement affecting debt market participants. Medium importance for trading members participating in government securities auctions through non-competitive bidding route.