Auction Results7.17% GS 20307.18% GS 20377.25% GS 2063 I.Notified Amount₹7000 Crore₹12000 Crore₹12000 Crore II.Underwriting Notified Amount₹7000 Crore₹12000 Crore₹12000 Crore III.Competitive Bids Received (i) Number101121163 (ii) Amount₹14820 Crore₹20440.250 Crore₹28115.250 Crore

7.17% GS 2030 7.18% GS 2037 7.25% GS 2063 I.Notified Amount    ₹7,000 crore ₹12,000 crore ₹12,000 crore II. Cut off Price / Implicit Yield at cut-off 100.10/7.1490%    99.36/7.2525% 99.04/7.3233% III. Amount accepted in the auction 7,000 crore ₹12,000 crore ₹12,000 crore

In the underwriting auctions conducted on September 15, 2023 for Additional Competitive Underwriting (ACU) of the undernoted Government securities, the Reserve Bank of India has set the cut-off rates for underwriting commission payable to Primary Dealers as given below:

(₹ crore)

Nomenclature of the Security

Government of India has announced the sale (re-issue) of Government Securities, as detailed below, through auctions to be held on September 15, 2023.

As per the extant scheme of underwriting notified on November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) for the underwriting auction, applicable to each Primary Dealer (PD), are as under:

Auction Results91 Days182 Days364 Days I.Notified Amount₹10000 Crore₹8000 Crore₹6000 Crore II.Competitive Bids Received(i) Number241173176 (ii) Amount₹47506.755 Crore₹21528.5 Crore₹20035 Crore III.Cut-off price / Yield98.321596.604393.4225 (YTM: 6.8474%)(YTM: 7.0494%)(YTM: 7.0599%) IV.Competitive Bids Accepted

T-Bill91 days182 days364 days II.Total Face Value Notified₹10,000 Crore₹8,000 Crore₹6,000 Crore III.Cut-off Price and Implicit Yield at Cut-Off Price98.3215 (YTM: 6.8474%)96.6043 (YTM: 7.0494%)93.4225 (YTM: 7.0599%) IV.Total Face Value Accepted₹10,000 Crore₹8,000 Crore₹6,000 Crore

Government of India announces the conversion/switch of its securities through auction for an aggregate amount of ₹18,000 crore (face value). The security-wise details of the conversion/switch are given as under:

Date of AuctionSource SecuritiesAmount (FV) of Source Securities
(In ₹ crore)Destination Securities

The result of the auction of State Government Securities held on September 12, 2023 is as under: (Amount in ₹ Crore) ANDHRA PRADESH 2038ANDHRA PRADESH 2041ASSAM 2033*GOA 2038 Notified Amount10001000500100 Tenure15181015 Competitive Bids Received (i) No.39233212 (ii) Amount381046102135385 Cut-off Yield (%)7.487.46-7.46 Competitive Bids Accepted

Amount to be raised (₹ Crore)    Amount Accepted (₹ Crore) Cut off Yield (%) Tenure (Year) 1    Andhra Pradesh 1000 1000 7.48 15 1000 1000 7.46 18 2 Assam* 500 - - 10 3    Goa    100    100    7.46    15 4    Haryana 1500 1500    7.47    10 5    Jammu and Kashmir    500 500    7.43    30

Government of India (GOI) has announced the sale (re-issue) of three dated securities for a notified amount of ₹31,000 crore as per the following details:

Sr NoSecurityDate of RepaymentNotified Amount
(₹ crore)GoI specific NotificationAuction DateSettlement Date

17.17% GS 2030Apr 17, 20307,000F.No.4(3)-B(W&M)/2023 dated September 11, 2023September 15, 2023
(Friday)September 18, 2023
(Monday)

27.18% GS 2037July 24, 203712,000

37.25% GS 2063June 12, 206312,000

Total
31,000

2. GoI will have the option to retain additional subscription up to ₹2,000 crore against each security mentioned above.

3. The securities will be sold through Reserve Bank of India Mumbai Office, Fort, Mumbai – 400001. The sale will be subject to the terms and conditions spelt out in the ‘Specific Notification’ mentioned above and the General Notification F.No.4(2)–W&M/2018, dated March 27, 2018.

4. The auction will be conducted using uniform price method for 7.17% GS 2030, 7.18% GS 2037 and multiple price method for 7.25% GS 2063. Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on September 15, 2023 (Friday). The non-competitive bids should be submitted between 10:30 a.m. and 11:00 a.m. and the competitive bids should be submitted between 10:30 a.m. and 11:30 a.m. The result will be announced on the same day and payment by successful bidders will have to be made on September 18, 2023 (Monday).

5. Bids for underwriting of the Additional Competitive Underwriting (ACU) portion can be submitted by ‘Primary Dealers’ from 09:00 a.m. up to 09:30 a.m. on September 15, 2023 (Friday) on the Reserve Bank of India Core Banking Solution (E-Kuber) system.

6. The Stocks will be eligible for “When Issued” trading for a period commencing from September 12 – September 15, 2023.

7. Operational guidelines for Government of India dated securities auction and other details are given in the Annex.

Ajit Prasad            
Director (Communications)

Press Release: 2023-2024/903