The Government of India has announced a government securities auction worth ₹32,000 crore, scheduled for July 10, 2026. The Reserve Bank of India (RBI) will conduct this sale through its Mumbai office. Two dated securities will be on offer in this auction.
Key Details of the Government Securities Auction
The first security is the 6.36% GS 2031, maturing on February 16, 2031. It carries a notified amount of ₹21,000 crore. Additionally, the 7.71% GS 2066, maturing on May 18, 2066, will be offered for ₹11,000 crore. Together, these two securities form the total auction size of ₹32,000 crore.
The Government also holds the option to retain additional subscriptions of up to ₹2,000 crore against each security. Therefore, the total amount raised could exceed the notified figure. Settlement for successful bids will take place on July 13, 2026 (Monday).
The auction will follow the multiple price method. Competitive bids must be submitted on the RBI’s e-Kuber system between 10:30 a.m. and 11:30 a.m. on July 10. Meanwhile, non-competitive bids must reach the system between 10:30 a.m. and 11:00 a.m. The RBI will announce results on the same day.
What This Means for Investors and Bidders
Primary Dealers can submit underwriting bids for the Additional Competitive Underwriting (ACU) portion from 9:00 a.m. to 9:30 a.m. on July 10. Individual investors can also participate through the RBI’s Retail Direct portal at rbiretaildirect.org.in. As a result, retail participation remains accessible alongside institutional bidders.
Up to 5% of each security’s notified amount is reserved for non-competitive bidders. Allotment under this segment will happen at the weighted average yield from competitive bids. However, each investor’s total bids must not exceed the notified auction amount.
The securities will be eligible for “When Issued” trading from July 7 to July 10, 2026. Furthermore, they will qualify for Repo transactions under RBI’s Master Direction on Repurchase Transactions. Non-resident investments remain subject to the Fully Accessible Route guidelines issued by the RBI.
For example, in the event of IT failure, physical bids may be submitted to the Public Debt Office in Mumbai. The minimum bid size starts at ₹10,000 and increases in multiples of ₹10,000 thereafter.
Source: RBI Press Releases
