The first lot comprises “7.02 per cent Government Security 2027” for a notified amount of Rs 6,000 crore.

The second set of “7.23 per cent Government Security 2039” is worth Rs 12,000 crore, while the third set of “7.30 per cent Government Security 2053” is for a notified amount of Rs 10,000 crore.

The three lots will be sold through a price-based auction using the multiple price method.

The government will have the option to retain additional subscription of up to Rs 2,000 crore against each of the three securities.

Up to 5 per cent of the notified amount of sale of securities will be allotted to eligible individuals and institutions as per the Non-Competitive Bidding Facility Scheme in the auction of government securities.

Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (e-Kuber) system on July 5.

Non-competitive bids should be submitted between 10.30 am to 11.00 am and competitive bids should be submitted between 10.30 am to 11.30 am.

The result of the auction will be declared on July 5, 2024 (Friday) and payment by successful bidders will be made on June 8 (Monday).

The securities will be eligible for trading “when issued” as per RBI guidelines.