Description
BSE announces non-competitive bidding for the Government of India's auction of 6.48% GS 2035 on February 27, 2026, with bid collection open via the NCB-GSec module on iBBS platform.
Summary
BSE has issued a notice (No. 20260225-1) informing trading members and direct investors about the non-competitive bidding facility for the Government of India’s auction of one dated security — 6.48% GS 2035 (Symbol: 648GS35F26) — scheduled for February 27, 2026. Bidding is facilitated through the NCB-GSec module on BSE’s iBBS web-based platform at https://ibbs.bseindia.com.
Key Points
- The GoI announced the sale of one dated security via RBI press release dated February 23, 2026.
- Security: 6.48% GS 2035 (Re-issue), Symbol:
648GS35F26, Type: G-Sec. - Issue size: ₹32,000 Crore; Minimum subscription: 100 units; Minimum amount: ₹10,000; Maximum amount: ₹2 Crore.
- Bidding platform: BSE iBBS » NCB-GSec module (https://ibbs.bseindia.com).
- This circular continues from Exchange circular no. 20180423-42 dated April 23, 2018, which launched the non-competitive bidding facility.
Regulatory Changes
No new regulatory changes introduced. This is an operational notice in continuation of the existing non-competitive bidding framework established in April 2018.
Compliance Requirements
- Trading members must use the NCB-GSec module on the iBBS platform to place bids.
- 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 IDs or password resets, 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 from 10:00 AM (24-hour availability) |
| Bid Collection End (Members) | February 27, 2026 by 8:00 AM |
| Bid Collection End (Direct Investors) | February 26, 2026 by 5:00 PM |
| Auction Date | February 27, 2026 |
| Settlement Date | March 2, 2026 |
Impact Assessment
This circular has a medium operational impact limited to trading members and direct investors participating in the debt segment. The auction involves a re-issue of 6.48% GS 2035 with a large issue size of ₹32,000 Crore, which is significant for the government debt market. However, the non-competitive bidding window is narrow (especially for direct investors), and participants must act promptly. No systemic risk or broad market disruption is anticipated; this is a routine debt auction facilitation notice.
Impact Justification
Routine operational circular for a single G-Sec auction via BSE's NCB-GSec platform; relevant to trading members and direct investors in debt instruments but limited to a specific auction window.