The Government of India has announced the auction of two dated securities with a combined notified amount of ₹28,000 crore. According to reports from Business Standard, the auction includes New GS 2041 for ₹17,000 crore and 7.43% GS 2076 for ₹11,000 crore. The securities will be issued using the multiple price method, with both competitive and non-competitive bids required to be submitted electronically through the Reserve Bank of India Core Banking Solution (e-Kuber system).
The auction process requires all bids to be submitted in electronic format on July 24, 2026 (Friday). As reported by Business Standard, the bidding window operates from 10:30 AM to 11:00 AM for non-competitive bids and 10:30 AM to 11:30 AM for competitive bids. The Government of India retains the option to retain additional subscription amounts up to ₹2,000 crore for each security, providing flexibility in the final issuance size based on market demand and pricing conditions. Results will be announced on the same day, with successful bidders required to make payment on July 27, 2026.
Up to 5% of each security will be allocated to eligible individuals and institutions under the non-competitive bidding facility, with retail investors able to participate through the Retail Direct portal. As per Business Standard, banks and primary dealers will submit consolidated bids on behalf of their clients. The auction for the new security will be yield-based while the re-issue will be price-based, with the minimum bid size set at ₹10,000 face value. These securities will also be eligible for repo transactions, 'When Issued' trading, and investment by non-residents under applicable guidelines.
This securities sale represents a significant government funding initiative, with the ₹28,000 crore notified amount indicating substantial market participation expected. The multiple price method approach allows for optimal pricing based on market conditions, while the electronic bidding system ensures transparency and efficient processing of investor responses. The government's retention option of ₹2,000 crore each for both securities provides flexibility in final issuance size based on market demand and pricing conditions. Additionally, the securities will be eligible for 'When Issued' trading from July 21, 2026, to July 24, 2026, ensuring broad participation in the government securities market.
