Description
BSE announces non-competitive bidding window for Government of India dated securities auction scheduled for February 27, 2026, featuring re-issuance of 6.48% GS 2035 worth Rs. 32,000 crore.
Summary
BSE has notified trading members about the non-competitive bidding (NCB) facility for the Government of India (GoI) dated securities auction scheduled on February 27, 2026. This follows an RBI press release dated February 23, 2026, announcing the GoI’s plan to sell one dated security via auction. Members can participate through the NCB-GSec module on BSE’s iBBS web-based bidding platform.
Key Points
- Auction involves re-issuance of 6.48% GS 2035 (symbol: 648GS35F26) with an issue size of Rs. 32,000 crore
- Bidding is available via the NCB-GSec module at https://ibbs.bseindia.com
- Minimum subscription: 100 units; minimum amount: Rs. 10,000; maximum amount: Rs. 2 crore
- Bid collection opened from February 24, 2026 at 10:00 AM with 24-hour availability
- Trading members must submit bids by 8:00 AM on February 27, 2026
- Direct investors must submit bids by 5:00 PM on February 26, 2026
- Settlement is scheduled for March 02, 2026
Regulatory Changes
No new regulatory changes introduced. This circular is issued in continuation of Exchange circular no. 20180423-42 dated April 23, 2018, which launched the non-competitive bidding facility for RBI-conducted Government Securities auctions.
Compliance Requirements
- Trading members wishing to participate must use the NCB-GSec module on the BSE iBBS platform
- 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 new user ID creation or password reset, contact Trading Operations at user.trdops@bseindia.com or 022-2272 8005/8215
- For bidding queries, contact trading.ops@bseindia.com or 022-2272 8376/5626/8226
- For obligation and pay-in queries, contact ICCL Operations at Collaterals@icclindia.com or settlements@icclindia.com
Important Dates
| Event | Date / Time |
|---|---|
| Bid Collection Start | February 24, 2026, 10:00 AM onwards (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 02, 2026 |
Impact Assessment
This is a standard periodic government securities auction notice impacting debt market participants and trading members registered on BSE’s iBBS platform. The re-issuance of 6.48% GS 2035 at Rs. 32,000 crore is a sizeable offering that could influence short-term liquidity and yield benchmarks in the debt segment. The tight bidding window (closing 8:00 AM on auction day for members) requires prompt action from participants. No equity market impact is expected.
Impact Justification
Routine government securities auction notice relevant to debt market participants and trading members; large issue size of Rs. 32,000 crore but standard NCB process with short bidding window.