The Government of India has announced the re-issue of two dated securities totaling ₹36,000 crore, scheduled for auction on October 9, 2026. The securities include a 7.06% bond maturing on July 27, 2041, with a notified amount of ₹23,000 crore, and a 7.43% bond maturing on January 19, 2076, with ₹13,000 crore. The auction will be conducted by the Reserve Bank of India (RBI) in Mumbai.
The auction process will use the multiple price method, with bids submitted electronically via the RBI’s e-Kuber system. Non-competitive bids will be accepted between 10:30 a.m. and 11:00 a.m., while competitive bids will be accepted from 10:30 a.m. to 11:30 a.m. on October 9. The government also retains the option to retain an additional subscription of up to ₹2,000 crore for each security. Results will be announced the same day, and successful bidders must make payments by October 12.
This auction is part of the government’s ongoing debt management strategy to meet financing requirements. The two securities have long maturities, extending up to 50 years, reflecting investor appetite for long-term government bonds. Auctions of this scale and tenor are typical in India’s sovereign bond market, which is among the largest in emerging economies. The notified amounts and coupon rates align with recent government borrowing patterns to balance cost and market demand.
The auction will be conducted through the RBI’s Mumbai office, with settlement scheduled for October 12, 2026. The government’s notification, including terms and conditions, is available on the RBI website, ensuring transparency and regulatory compliance for market participants.