Description
BSE announces non-competitive bidding facility for RBI's SDL auction on March 02, 2026, covering 33 securities across 13 states via the NCB-GSec module of iBBS platform.
Summary
BSE has announced the non-competitive bidding facility for the RBI-conducted State Government Securities (SDL) auction scheduled for March 02, 2026. Trading members and direct investors can participate through the NCB-GSec module on BSE’s iBBS web-based bidding platform. A total of 33 SDL securities from 13 states are available, comprising a mix of new issues and re-issues with a combined indicative issue size of approximately Rs. 46,030 crore.
Key Points
- Bidding is available via the NCB-GSec module at https://ibbs.bseindia.com
- 33 SDL securities across 13 states are available for non-competitive bidding
- Securities include both new issues and re-issues with tenors ranging from 2031 to 2056
- Minimum subscription unit is 100 units at Rs. 10,000 minimum amount per security
- Maximum bid amount per security is Rs. 10–20.3 crore depending on issue size
- This circular is in continuation of Exchange circular no. 20191122-28 dated November 22, 2019
Regulatory Changes
No new regulatory changes are introduced. This circular operationalises the existing non-competitive bidding framework (established via circular 20191122-28) for the March 02, 2026 SDL auction as announced by RBI via press release on February 26, 2026.
Compliance Requirements
- Trading members must use the NCB-GSec module on iBBS (https://ibbs.bseindia.com) to submit bids
- Members must ensure bids are submitted before March 02, 2026 at 8:00 am
- Direct investors must submit bids before March 01, 2026 at 5:00 pm
- 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 27, 2026 from 10:00 am (24-hour availability) |
| Bid Collection End – Direct Investors | March 01, 2026 till 5:00 pm |
| Bid Collection End – Members | March 02, 2026 till 8:00 am |
| Auction Date | March 02, 2026 |
| Settlement Date | March 04, 2026 |
Impact Assessment
This is a routine operational announcement for debt market participants. The auction covers 33 SDL securities from Assam (AS), Chhattisgarh (CG), Gujarat (GJ), Himachal Pradesh (HP), Jammu & Kashmir (JK), Karnataka (KA), Madhya Pradesh (MP), Maharashtra (MH), Tamil Nadu (TN), Telangana (TS), Uttar Pradesh (UP), Uttarakhand (UK), and West Bengal (WB). Karnataka, Tamil Nadu, and Madhya Pradesh have the largest combined issuances. Trading members and eligible investors in government securities should act within the stated bid submission windows. No impact on equity markets or listed equities.
Impact Justification
Routine operational circular for debt market participants enabling non-competitive bidding in RBI's SDL auction; relevant to trading members and direct investors in government securities but does not introduce new rules or regulatory changes.