India Announces Rs 32,000 Crore Government Securities Auction

The Government of India has unveiled plans to auction government securities worth Rs 32,000 crore on April 24, 2026. According to the Reserve Bank of India, the auction includes both the issuance and reissuance of four types of securities. The move aligns with the existing underwriting commitment policy notified in November 2007.

Key securities include the 6.03% GS 2029 and the 6.68% GS 2033, each with a notified amount of Rs 11,000 crore. Additionally, the government aims to raise Rs 5,000 crore through the 7.24% GS 2055 bonds and another Rs 5,000 crore via the New GOI SGrB 2056. Notably, the Minimum Underwriting Commitment for the 2029 and 2033 securities is set at Rs 262 crore per Primary Dealer, which also applies to the bidding commitment under Additional Competitive Underwriting.

For the longer-maturity 2055 and 2056 securities, the Minimum Underwriting Commitment and bidding commitment per Primary Dealer are established at Rs 120 crore. The underwriting auction will use a multiple price-based method on April 24. Primary Dealers are required to place their ACU bids through the RBI's e-Kuber system between 9:00 and 9:30 AM on the auction day, with commissions being credited to the PDs' accounts on the security issuance day, as RBI notes.

(With inputs from agencies.)