Reserve Bank's re-issue of 6.94% GS 2036 cuts off at a price of 96.91 with no devolvement on Primary Dealers
16 October 2026
The Reserve Bank of India announced the full auction results for the re-issue of the 6.94% GS 2036, held on 16 October 2026.
The notified amount was Rs 34,000 crore.
Four hundred competitive bids were received, for Rs 94,072.116 crore, and 113 of them were accepted, for Rs 33,960.709 crore.
The cut-off price was Rs 96.91, which works out to a yield to maturity of 7.3955 per cent.
Devolvement on Primary Dealers was NIL, because the bids covered the issue.
In the underwriting auction for the same security the Minimum Underwriting Commitment was Rs 17,010 crore and the Additional Competitive Underwriting accepted was Rs 16,990 crore, taking the total underwritten to Rs 34,000 crore at an ACU commission cut-off rate of 0.38 paise per Rs 100.
In plain words
GS Government Security — A dated borrowing instrument issued by the Government of India.
Devolvement Devolvement on Primary Dealers — The part of an issue that Primary Dealers must take up themselves when bids fall short of the notified amount.
YTM Yield to Maturity — The annual return an investor earns if the security is held till it matures.