The Reserve Bank of India on 13 February 2026 conducted the full auction of two dated government securities, drawing firm demand across both the medium-term and ultra long-term segments, with no devolvement on primary dealers.
The auction comprised the New Government Security 2031 with a notified amount of Rs 18,000 crore and the 7.43% Government Security 2076 for Rs 13,000 crore.
Investor appetite remained strong. The New GS 2031 received 216 competitive bids amounting to Rs 58,534 crore, over three times the notified size. The 7.43% GS 2076 attracted 157 bids aggregating Rs 33,130 crore, translating into more than 2.5 times subscription.
The New GS 2031 was auctioned at a cut-off price of Rs 100.00, corresponding to a yield of 6.3600%. The weighted average price came in slightly higher at Rs 100.07, with a weighted average yield of 6.3431%.
Meanwhile, the 7.43% GS 2076 cleared at a cut-off price of Rs 99.31, implying a yield of 7.4823%. Its weighted average price stood at Rs 99.39, with a weighted average yield of 7.4761%.
In the competitive segment, the RBI accepted 98 bids worth Rs 17,997.98 crore for the New GS 2031. For the 7.43% GS 2076, 40 bids amounting to Rs 12,983.03 crore were accepted.
Partial allotments were made in both securities. As many as 49 bids in the New GS 2031 were partially allotted at 43.9700%, while one bid in the 7.43% GS 2076 was partially accepted at 60.4588%.
Non-competitive bids were fully accepted in both securities. The New GS 2031 received six non-competitive bids worth Rs 2.02 crore, while the 7.43% GS 2076 saw eight bids amounting to Rs 16.97 crore.
The entire underwriting notified amount of Rs 18,000 crore for the New GS 2031 and Rs 13,000 crore for the 7.43% GS 2076 was accepted from primary dealers. However, there was no devolvement on primary dealers, indicating that the market absorbed the issuances comfortably.