CGNW2031 - Stock Market Circularshttps://rhnvrm.github.io/stock-market-circulars/stocks/cgnw2031/Regulatory circulars from NSE, BSE, and SEBI with AI-powered summariesHugo -- gohugo.ioen-usFri, 10 Apr 2026 00:00:00 +0000Non-Competitive Bidding for State Government Securities (SDL) Auction on April 13, 2026https://rhnvrm.github.io/stock-market-circulars/circulars/bse/2026/bse-2026-04-10-cdc541f09ccd2fe6-non-competitive-bidding-for-auction-of-state-government-securities-sdl-on-april-/Fri, 10 Apr 2026 12:12:35 +0000https://rhnvrm.github.io/stock-market-circulars/circulars/bse/2026/bse-2026-04-10-cdc541f09ccd2fe6-non-competitive-bidding-for-auction-of-state-government-securities-sdl-on-april-/BSE announces non-competitive bidding window for 11 State Development Loans (SDLs) from Bihar, Chhattisgarh, Kerala, Madhya Pradesh, and Uttar Pradesh, totalling Rs. 12,700 Cr, with auction on April 13, 2026.bsetradingmediummediummediumcdc541f09ccd2fe6https://www.bseindia.com/downloads/UploadDocs/Notices/20260410-29/20260410-29.pdfBRNW2051CGNW2031CGNW2040KLNW2033KLNW2037KLNW2042MPNW2042MPNW2056UPNW2033UP074637UP078846sdlstate-government-securitiesnon-competitive-biddingdebtauctionrbiibbsncb-gsectrading-operationsSummary

BSE has announced a non-competitive bidding window for the RBI-conducted State Development Loan (SDL) auction scheduled for April 13, 2026. The auction covers 11 securities across 5 states — Bihar, Chhattisgarh, Kerala, Madhya Pradesh, and Uttar Pradesh — with a combined issue size of Rs. 12,700 Crore. Trading members and direct investors can participate via the NCB-GSec module on BSE’s iBBS platform.

Key Points

  • Bidding opens April 10, 2026 from 10:00 am on the iBBS NCB-GSec platform (24-hour availability)
  • 9 new securities and 2 re-issues are available for bidding
  • Minimum subscription unit is 100 units; minimum investment is Rs. 10,000 for all securities
  • Settlement is scheduled for April 15, 2026 (T+2)
  • Reference circular: BSE circular no. 20191122-28 dated November 22, 2019 (launch of NCB facility for SDLs)

Regulatory Changes

No new regulatory changes. This notice is issued in continuation of the existing non-competitive bidding framework established via circular 20191122-28 dated November 22, 2019, and references an RBI press release dated April 09, 2026 announcing the auction.

Compliance Requirements

  • Trading members must use the NCB-GSec module at https://ibbs.bseindia.com to submit bids
  • Members must submit bids by April 13, 2026 till 8:00 am
  • Direct investors must submit bids by April 12, 2026 till 5:00 pm
  • Contact Trading Operations for new user ID creation, password resets, or bidding-related queries
  • Contact ICCL Operations for obligation, pay-in, and collateral-related queries

Important Dates

Event Date/Time
Bid Collection Start April 10, 2026 from 10:00 am (24-hr availability)
Bid Collection End (Direct Investors) April 12, 2026 till 5:00 pm
Bid Collection End (Members) April 13, 2026 till 8:00 am
Auction Date April 13, 2026
Settlement Date April 15, 2026

Impact Assessment

This is a standard periodic SDL auction notice. The total issuance of Rs. 12,700 Crore across 11 securities is material for the debt market segment. Participants in the government securities market — particularly debt mutual funds, insurance companies, and banks — may participate through trading members via BSE’s non-competitive bidding route. The re-issuance of 7.46% UP 2037 and 7.88% UP 2046 (each Rs. 2,000 Cr) represent the largest single tranches. No disruption to equity markets is expected. Trading members should ensure timely bid submission before the respective deadlines.

Securities Detail

Security Symbol Type Issue Size (Rs. Cr) Max Amt (Rs. Cr)
BR SDL 2051 BRNW2051 SDL New 1,600 16
CG SDL 2031 CGNW2031 SDL New 500 5
CG SDL 2040 CGNW2040 SDL New 500 5
KL SDL 2033 KLNW2033 SDL New 400 4
KL SDL 2037 KLNW2037 SDL New 1,000 10
KL SDL 2042 KLNW2042 SDL New 1,400 14
MP SDL 2042 MPNW2042 SDL New 1,200 12
MP SDL 2056 MPNW2056 SDL New 600 6
UP SDL 2033 UPNW2033 SDL New 1,500 15
7.46% UP 2037 UP074637 SDL Re-issue 2,000 20
7.88% UP 2046 UP078846 SDL Re-issue 2,000 20
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