The Reserve Bank of India (RBI) on Friday released the results of the underwriting auction held on October 31, 2025, for Additional Competitive Underwriting (ACU) of select government securities.
The central bank set cut-off rates for underwriting commissions payable to Primary Dealers for four securities.
For the 5.91% Government Security (GS) 2028, with a notified amount of Rs 9,000 crore, the Minimum Underwriting Commitment (MUC) stood at Rs 4,515 crore, while the ACU amount accepted was Rs 4,485 crore. The total underwritten amount reached Rs 9,000 crore, with a cut-off underwriting commission of 0.15 paise per Rs 100.
The 6.28% GS 2032, with a notified amount of Rs 11,000 crore, saw an MUC of Rs 5,502 crore and an ACU acceptance of Rs 5,498 crore, bringing the total underwritten amount to Rs 11,000 crore. The cut-off commission rate was 0.30 paise per Rs 100.
For the 7.24% GS 2055, the notified amount was Rs 7,000 crore. The MUC was Rs 3,507 crore, and the ACU amount accepted was Rs 3,493 crore, totaling Rs 7,000 crore underwritten. The cut-off rate for the underwriting commission was 0.67 paise per Rs 100.
The 6.98% Government of India Sovereign Green Bond (SGrB) 2054, with a notified amount of Rs 5,000 crore, had an MUC of Rs 2,520 crore and an ACU acceptance of Rs 2,480 crore. The total underwritten amount was Rs 5,000 crore, with the highest cut-off commission among the four securities at 1.50 paise per Rs 100.–
