Document title: Government Stock - Full Auction Results

Issuing authority: Reserve Bank of India (RBI), Department of Communication

Reference: Press Release 2026-2027/1411

Date: October 30, 2026

Capital Markets and Flows

The RBI conducted a full auction of four government securities: 6.20% GS due 2029, 6.57% GS due 2033, 7.63% GS due 2056, and 7.50% GOI SGrB due 2056. The total notified amount was ₹33,000 crore, comprising ₹9,000 crore for each of the three GS issues and ₹3,000 crore for the GOI SGrB.

Competitive bids were received from 567 bidders (109 for 2029, 175 for 2033, 230 for 2056 GS, 54 for 2056 GOI) amounting to ₹79,401 crore (₹18,463 crore, ₹27,422 crore, ₹27,235 crore and ₹6,281 crore respectively). The cut‑off prices were 97.69, 95.71, 97.51 and 96.23 rupees, corresponding to yields of 7.1218%, 7.3818%, 7.8459% and 7.8292%.

The RBI accepted 53 competitive bids for the 2029 issue (₹8,996.382 crore), 86 bids for the 2033 issue (₹11,993.805 crore), 49 bids for the 2056 GS (₹8,901.230 crore) and 14 bids for the 2056 GOI (₹2,999.723 crore). Partial allotment percentages of the competitive bids were 76.8546% for 2029, 88.2329% for 2033, 37.7490% for 2056 GS and 87.1538% for 2056 GOI, based on 5, 8, 8 and 2 bids respectively. Weighted average prices were 97.74, 95.78, 97.56 and 96.35 rupees, yielding weighted average yields of 7.1014%, 7.3681%, 7.8415% and 7.8184%.

Non‑competitive bids were modest, with 3 bids for 2029 (₹3.618 crore), 3 bids for 2033 (₹6.195 crore), 4 bids for 2056 GS (₹98.770 crore) and 1 bid for 2056 GOI (₹0.277 crore). All non‑competitive bids were accepted in full.

The underwriting amount notified matched the total issue size for each security (₹9,000 crore for each GS and ₹3,000 crore for the GOI SGrB) and was fully taken up by primary dealers. No devolvement was required from the primary dealers.

Liquidity

The auction results indicate strong demand for long‑dated government securities, with overall subscription exceeding 240% of the notified amount, suggesting ample liquidity absorption capacity in the market.

Overall, the RBI’s full auction on October 30 2026 demonstrated robust investor appetite across the maturity spectrum, with competitive bids substantially surpassing the notified issue sizes, yields anchored around 7% to 7.85%, and full underwriting coverage by primary dealers, reinforcing the depth of India’s government securities market.