India's latest bond auction saw strong demand for 2031 and 2066 securities, with competitive bids far outpacing notified amounts and no devolvement on primary dealers.
Auction of 6.53% GS 2031 received competitive bids totaling ₹33,343.8 crore against notified ₹19,000 crore, with cut-off yield at 7.3589%.
Auction of 7.71% GS 2066 received competitive bids totaling ₹29,157.0 crore against notified ₹14,000 crore, with cut-off yield at 7.9339%.
The Reserve Bank of India successfully auctioned the 6.53% GS 2031 and 7.71% GS 2066 bonds, attracting robust investor interest. Competitive bids significantly exceeded the notified amounts for both securities, with cut-off yields settling at 7.3589% and 7.9339% respectively. No devolvement on primary dealers was reported, signaling healthy market appetite.
The cut-off yield for the 6.53% GS 2031 bond was 7.3589%, while the 7.71% GS 2066 bond settled at a cut-off yield of 7.9339%.