Description
BSE notifies trading members of non-competitive bidding facility for the auction of 6.48% GS 2035 (Re-issue, Rs. 32,000 Cr) by RBI on February 27, 2026, via the NCB-GSec module on iBBS platform.
Summary
BSE has issued a notice informing trading members of the non-competitive bidding facility for the Government of India’s (GoI) dated securities auction scheduled on February 27, 2026. The auction covers a re-issue of the 6.48% GS 2035 government security with an issue size of Rs. 32,000 crore. Bidding is to be conducted through the NCB-GSec module of BSE’s iBBS web-based system.
Key Points
- The RBI press release dated February 23, 2026 announced the GoI’s intention to sell one dated security via auction on February 27, 2026.
- This circular is in continuation of Exchange Circular No. 20180423-42 (April 23, 2018) on the launch of the non-competitive bidding facility for government securities.
- Bidding is available via the NCB-GSec module at https://ibbs.bseindia.com.
- Security details: 6.48% GS 2035 | Symbol: 648GS35F26 | Type: G-Sec (Re-issue) | Issue Size: Rs. 32,000 Cr | Min Subscription: 100 units | Min Amount: Rs. 10,000 | Max Amount: Rs. 2 Crore.
- Separate bid collection end dates apply for trading members and direct investors.
Regulatory Changes
No new regulatory changes introduced. This circular operationalizes an existing non-competitive bidding framework (established via Circular 20180423-42) for the specific February 27, 2026 auction.
Compliance Requirements
- Trading members wishing to participate must submit bids through the NCB-GSec module on the iBBS platform (https://ibbs.bseindia.com).
- Members must ensure bids are submitted before 8:00 AM on February 27, 2026.
- Direct investors must submit bids before 5:00 PM on February 26, 2026.
- For system access issues (new user ID or password reset), members should contact Trading Operations at user.trdops@bseindia.com or 022-2272 8005/8215.
- For bidding queries: trading.ops@bseindia.com or 022-2272 8376/5626/8226.
- For obligation and pay-in queries: ICCL Operations at collaterals@icclindia.com / settlements@icclindia.com or 022-2272 8468/8704/8264.
Important Dates
| Event | Date & Time |
|---|---|
| Bid Collection Start | February 24, 2026, 10:00 AM (24-hour availability) |
| Bid Collection End (Members) | February 27, 2026, 8:00 AM |
| Bid Collection End (Direct Investors) | February 26, 2026, 5:00 PM |
| Auction Date | February 27, 2026 |
| Settlement Date | March 2, 2026 |
Impact Assessment
This is a routine operational notice relevant to BSE trading members and direct investors participating in the government securities debt market. The circular enables participation in a Rs. 32,000 crore re-issue of the 6.48% GS 2035 bond. The tight bidding window — especially for members closing at 8:00 AM on auction day — requires timely action. No broader market disruption is expected; impact is limited to debt segment participants engaged in government securities.
Impact Justification
Routine operational circular for debt segment participants with time-sensitive bidding deadlines; relevant to trading members and direct investors in government securities but limited to the debt market segment.