New Delhi: The Finance Ministry on Monday announced the sale of government bonds worth Rs 29,000 crore in three lots through auctions to be conducted by the Reserve Bank of India in Mumbai on May 31.

The first lot comprises “New Government Security 2029” for a notified amount of Rs12,000 crore through a yield-based auction using multiple price methods. The second lot of “New GOI SGrB 2034” worth Rs6,000 crore will also be auctioned through a yield-based auction using multiple price method while the third set of 7.34 per cent Government Security 2064 worth Rs11,000 crore will be auctioned through price based auction using multiple price method.

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