Description
BSE announces non-competitive bidding facility for 18 State Development Loans (SDLs) from multiple states to be auctioned on May 12, 2026, with bidding open via the NCB-GSec module on iBBS platform from May 11, 2026.
Summary
BSE has announced the non-competitive bidding facility for the auction of State Government Securities (SDLs) scheduled on May 12, 2026, in continuation of Exchange circular no. 20191122-28 dated November 22, 2019. A total of 18 SDL securities from 8 states (Assam, Bihar, Chhattisgarh, Himachal Pradesh, Kerala, Madhya Pradesh, Manipur, Mizoram, Tamil Nadu, and Uttar Pradesh) will be available for bidding through the NCB-GSec module on BSE’s iBBS web-based system. The auction is backed by an RBI press release dated May 08, 2026.
Key Points
- 18 SDL securities across multiple states are available for non-competitive bidding
- Bidding is conducted via https://ibbs.bseindia.com under the NCB-GSec module
- Minimum subscription is 100 units at Rs. 10,000 minimum amount for all securities
- Maximum bid amount ranges from Rs. 1 Cr (MZ SDL 2038) to Rs. 16 Cr (7.92% BR 2051) depending on the security
- Total issue size across all securities exceeds Rs. 16,200 Cr
- 15 securities are re-issues; 3 are new issues (MN SDL 2033, ML SDL 2036, MZ SDL 2038)
- Settlement date is May 13, 2026 (T+1)
Regulatory Changes
No new regulatory changes. This circular operates under the framework established by Exchange circular no. 20191122-28 dated November 22, 2019, which launched the non-competitive bidding facility for State Government Securities auctions conducted by RBI.
Compliance Requirements
- Trading members must use the NCB-GSec module on the iBBS platform (https://ibbs.bseindia.com) to place bids
- Members must ensure bids are submitted before May 12, 2026, 8:00 am
- Direct investors must submit bids before May 11, 2026, 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 at Collaterals@icclindia.com or settlements@icclindia.com
Important Dates
| Event | Date & Time |
|---|---|
| Bid Collection Start | May 11, 2026, 10:00 am onwards (24-hour availability) |
| Bid Collection End (Direct Investors) | May 11, 2026, 5:00 pm |
| Bid Collection End (Trading Members) | May 12, 2026, 8:00 am |
| Auction Date | May 12, 2026 |
| Settlement Date | May 13, 2026 |
Impact Assessment
Securities Available for Bidding:
| Symbol | Security | Type | Issue Size (Rs. Cr) | Max Amt (Rs. Cr) |
|---|---|---|---|---|
| AS072232 | 7.22% AS 2032 | SDL Re-issue | 1,000 | 10 |
| BR079251 | 7.92% BR 2051 | SDL Re-issue | 1,600 | 16 |
| CG073731 | 7.37% CG 2031 | SDL Re-issue | 500 | 5 |
| CG078340 | 7.83% CG 2040 | SDL Re-issue | 500 | 5 |
| HP078136 | 7.81% HP 2036 | SDL Re-issue | 500 | 5 |
| KL076033 | 7.60% KL 2033 | SDL Re-issue | 400 | 4 |
| KL078137 | 7.81% KL 2037 | SDL Re-issue | 1,000 | 10 |
| KL078642 | 7.86% KL 2042 | SDL Re-issue | 1,400 | 14 |
| MP078642 | 7.86% MP 2042 | SDL Re-issue | 1,200 | 12 |
| MP079056 | 7.90% MP 2056 | SDL Re-issue | 600 | 6 |
| MNNW2033 | MN SDL 2033 | SDL New | 500 | 5 |
| MLNW2036 | ML SDL 2036 | SDL New | 500 | 5 |
| MZNW2038 | MZ SDL 2038 | SDL New | 100 | 1 |
| TN075032 | 7.50% TN 2032 | SDL Re-issue | 1,000 | 10 |
| TN077336 | 7.73% TN 2036 | SDL Re-issue | 1,000 | 10 |
| TN078041 | 7.80% TN 2041 | SDL Re-issue | 1,000 | 10 |
| UP076033 | 7.60% UP 2033 | SDL Re-issue | 700 | 7 |
| UP075738 | 7.57% UP 2038 | SDL Re-issue | 1,000 | 10 |
This is a routine SDL auction notification impacting debt segment trading members and direct investors seeking exposure to state government securities. The non-competitive bidding mechanism ensures smaller participants can access these instruments without needing to quote yields, providing stable demand support for state government borrowings. Yields across securities range from 7.22% to 7.92%, reflecting current market conditions for state-level debt.
Impact Justification
Routine SDL non-competitive bidding notice for trading members in the debt segment; affects participants in government securities auctions but represents a standard periodic event with no policy changes.