The Reserve Bank of India conducted a successful auction of government securities on 18 July 2025, with robust investor participation for both the newly issued GS 2030 and the 7.09% GS 2054 bonds.
For the New GS 2030, the government had notified an auction amount of Rs 15,000 crore. The RBI received 220 competitive bids, amounting to Rs 59,005 crore, nearly four times the notified amount. The cut-off yield was set at 6.0100%, while the weighted average yield (WAY) came in slightly higher at 6.0020%, reflecting strong investor appetite. Ultimately, 77 bids were accepted for a total of Rs 14,993.48 crore, with a partial allotment rate of 68.67% on competitive bids.
In the case of the 7.09% GS 2054, the notified amount was Rs 12,000 crore. The auction attracted 357 competitive bids totaling Rs 50,840 crore. The cut-off yield was 6.9813%, with a weighted average yield of 6.9797%, showing tight pricing. Only 8 bids were accepted for Rs 11,936.46 crore, with a partial allotment rate of 58.48%.
On the non-competitive front, both securities saw modest interest. The GS 2030 received 4 non-competitive bids worth Rs 6.52 crore, while the GS 2054 received 7 bids worth Rs 63.55 crore. All non-competitive bids were fully accepted.
The underwriting for both securities matched the notified amounts, Rs 15,000 crore for GS 2030 and Rs 12,000 crore for GS 2054, with no devolvement on primary dealers in either case.