Description
BSE announces non-competitive bidding for the Government of India's auction of 6.48% GS 2035 dated security on February 27, 2026, with bidding available through the NCB-GSec module on the iBBS platform.
Summary
BSE has announced the non-competitive bidding window for the Government of India’s auction of one dated security — 6.48% GS 2035 — scheduled for February 27, 2026. Trading members and direct investors may participate through the NCB-GSec module on BSE’s iBBS web-based bidding platform. This notice is issued in reference to an RBI press release dated February 23, 2026, and in continuation of BSE circular no. 20180423-42 (April 23, 2018).
Key Points
- The GoI will auction the 6.48% GS 2035 (Symbol: 648GS35F26) as a re-issue with an issue size of Rs. 32,000 crore.
- Bidding is conducted through the NCB-GSec module at https://ibbs.bseindia.com.
- Minimum subscription is 100 units with a minimum amount of Rs. 10,000 and a maximum of Rs. 2 crore.
- Bid collection opened on February 24, 2026 at 10:00 am (24-hour availability).
- Members must submit bids by 8:00 am on February 27, 2026; direct investors by 5:00 pm on February 26, 2026.
- Settlement is scheduled for March 02, 2026.
Regulatory Changes
No new regulatory changes. This circular operates under the existing non-competitive bidding framework established by BSE circular no. 20180423-42 dated April 23, 2018, and follows RBI’s press release dated February 23, 2026 announcing the auction.
Compliance Requirements
- Trading members wishing to participate must access the NCB-GSec module on the iBBS platform before the respective bid collection deadlines.
- Members must ensure bids are submitted by 8:00 am on February 27, 2026.
- Direct investors must submit bids by 5:00 pm on February 26, 2026.
- Queries related to user ID creation, bidding, obligations, and pay-in should be directed to the relevant BSE/ICCL teams as specified in the circular.
Important Dates
| Event | Date / Time |
|---|---|
| Bid Collection Start | February 24, 2026, from 10:00 am (24-hour availability) |
| Bid Collection End (Members) | February 27, 2026, till 8:00 am |
| Bid Collection End (Direct Investors) | February 26, 2026, till 5:00 pm |
| Auction Date | February 27, 2026 |
| Settlement Date | March 02, 2026 |
Impact Assessment
This is a standard periodic G-sec auction notification affecting debt market participants — trading members and direct investors — who wish to participate in the non-competitive bidding process. The issue size of Rs. 32,000 crore for the 6.48% GS 2035 re-issuance is significant in the government securities market. The tight bidding window for members (closing at 8:00 am on auction day) requires timely action. No broader market disruption is anticipated; this is routine government borrowing activity.
Impact Justification
Routine operational notice for trading members and direct investors to participate in a specific GoI G-sec auction via BSE's NCB-GSec platform. Affects debt market participants but is a standard periodic auction notification.