The government said it would raise Rs 33,000 crore through the sale of bonds (government securities) on Friday. Four government securities (G-Secs) with rates from 6.69 per cent to 7.40 per cent would be auctioned through multiple price-based methods on Reserve Bank of India’s (RBI’s) Core Banking Solution (E-Kuber) system.
Primary dealers (PDs) can submit their bids for ACU auction electronically.
In a statement, on Thursday, RBI said, “Government has announced the sale (re-issue) of Government Securities through auctions, to be held on September 30, 2022.”
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As per RBI, of the total, the highest G-Sec aggregated to Rs 13,000 crore valuation with a coupon rate of 7.26 per cent and a maturity term of 2032. The minimum bidding in this security is Rs 310 crore.
G-Secs worth Rs 9,000 crore would be offered with a coupon rate of 7.40 per cent and tenure of 2062. The minimum bidding amount for this bond sale is Rs 215 crore. Rs 7,000 crore G-Secs would be offered with a coupon rate of 7.10 per cent and a maturity term of 2029. The minimum bidding amount for this bond is Rs 167 crore.
According to RBI, the underwriting auction would be conducted through multiple price-based methods on Friday. PDs may submit their bids for ACU auction electronically between 10.30 am and 11 am.
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The underwriting commission would be credited to the current account of the respective PDs with the Reserve Bank on the date of issue of securities.
