India to auction ₹32,000 crore in government securities across four tenors on August 14
What happened
The Indian government announced an auction of four dated securities totaling ₹32,000 crore set for August 14, 2026. The issuance includes new securities maturing in 2029 and 2033 (₹11,000 crore each), a 7.24% bond maturing in 2055 (₹5,000 crore), and a 7.50% Sovereign Green Bond maturing in 2056 (₹5,000 crore). The government holds an option to retain up to ₹2,000 crore in additional subscriptions per paper.
Why it matters
The issuance provides institutional and retail participants access to sovereign debt across medium and ultra-long tenors, including targeted green finance allocations. Individual investors can bid for a 5% non-competitive share via the RBI Retail Direct portal, while Primary Dealers can participate in additional competitive underwriting through the RBI e-Kuber system.
Bigger picture
The sale uses a multiple-price auction model, applying yield-based bidding for new papers and price-based bidding for re-issues. Market participants can utilize 'When Issued' trading from August 11 to August 14 to manage price discovery and liquidity prior to final settlement.
Watch next
Auction results will be announced on August 14, 2026, with payment settlement scheduled for August 17, 2026.