Summary of this article
Government plans to raise Rs 36,000 crore through two bond auctions.
RBI will auction 7.06 per cent GS 2041 and 7.43 per cent GS 2076.
Investors can submit bids on November 6, with payments due November 9.
The Centre will raise Rs 36,000 crore through the re-issue of two dated Government securities (G-secs) at an auction scheduled for November 6, 2026. The securities include a 7.06 per cent government bond maturing in 2041 and a 7.43 per cent bond maturing in 2076.
The Reserve Bank of India (RBI) will conduct the auction through its Mumbai office. The government has also kept the option of accepting additional bids worth up to Rs 2,000 crore for each security over and above the notified amounts.
Allocation Across Two G-Secs
The government has set the notified amount at Rs 23,000 crore for the 7.06 per cent Government Security (GS) 2041. This bond will mature on July 27, 2041. The second security, the 7.43 per cent GS 2076, has a notified amount of Rs 13,000 crore. Its repayment date is January 19, 2076.
Together, the two securities account for Rs 36,000 crore. However, the government’s option to accept an additional Rs 2,000 crore against each bond could take the total sale amount higher, depending on the bids received and accepted.
Bidding Schedule And Payment Details
This will be a multiple price auction. In this format, the successful bidders will pay the quotations they have made, not the common price. The bids can be submitted digitally on RBI’s e-Kuber platform till November 6.
The window for non-competitive bids will stay open from 10:30 am till 11 am. Competitive bids can be submitted between 10:30 am and 11:30 am on the same day.
The RBI will announce the auction results on November 6. Successful bidders will have to make their payments on November 9, 2026.
Primary dealers can also submit bids for the Additional Competitive Underwriting (ACU) portion. The submission window for these bids will be open from 9 am to 9:30 am on November 6 through the e-Kuber platform.
When-Issued Trading Window
Both G-secs will be available for When-Issued trading from November 3-6, 2026. This gives eligible market participants an opportunity to trade the securities before the auction and their actual issuance.
When-Issued trading refers to those transactions in G-secs that have been announced but are not yet issued. These trades are settled only after the securities are formally issued.
The facility allows market participants to take positions in the upcoming bonds and get an indication of the demand and prices at which they may trade. These transactions are governed by the RBI’s rules and guidelines.
