The Reserve Bank of India on December 15 set an issue price of ₹6,199 per gram for the Sovereign Gold Bonds (SGBs) 2023-24 Series III. The price will be lower by ₹50 per gram for those who subscribe through the online mode.
The subscription window for Sovereign Gold Bonds (SGBs) 2023-24 Series III will open for five trading days, starting from December 18 until December 22. The issuance of these bonds is scheduled for December 28, 2023. The price for the tranche was announced by the Reserve Bank of India (RBI) on Friday, December 15.
Price determination
The price of SGBs is fixed in Indian rupees based on a simple average closing price of gold of 999 purity, published by the India Bullion and Jewellers Association Ltd (IBJA) for the last three working days of the week preceding the subscription period.
RBI said that the nominal value based on the simple average of closing price between December 13-15, works out to be ₹6,199 per gram. For online subscribers, the issue price of a Gold Bond will be ₹6,149 per gram of gold.
Buying SGBs
SGBs can be bought from these channels:
Stock Holding Corporation of India (SHCIL)
Clearing Corporation of India (CCIL)
Designated Post Offices
National Stock Exchange of India
Bombay Stock ExchangeFor online purchases, investors can follow these steps:
Log in to Net Banking Account
Select 'e-Service' and Sovereign Gold Bond
Register (for first-time investors)
Review RBI's terms, input SGB scheme details, and depository participant details
Submit Registration Form
Click 'Purchase,' input subscription quantity, and nominee details
Enter the OTP sent to the registered mobile phone to complete the purchaseIt's worth noting that even after the subscription period closes, SGBs can still be acquired from the secondary market.
SGB returns
A look at how SGB performed since the start of FY22:
| FY22 and FY23 | Issue Date | Issue Price (₹) | Current Price (₹) | Returns |
| 2021-22, Series I | May 25, 2021 | 4,777 | 5,926 | 24.05% |
| 2021-22, Series II | June 1, 2021 | 4,842 | 5,926 | 22.39% |
| 2021-22, Series III | June 8, 2021 | 4,889 | 5,926 | 21.21% |
| 2021-22, Series IV | July 20, 2021 | 4,807 | 5,926 | 23.28% |
| 2021-22, Series V | August 17, 2021 | 4,790 | 5,926 | 23.72% |
| 2021-22, Series VI | September 7, 2021 | 4,732 | 5,926 | 25.23% |
| 2021-22, Series VII | November 2, 2021 | 4,761 | 5,926 | 24.47% |
| 2021-22, Series VIII | December 7, 2021 | 4,791 | 5,926 | 23.69% |
| 2021-22, Series IX | January 18, 2022 | 4,786 | 5,926 | 23.82% |
| 2021-22, Series X | March 8, 2022 | 5,109 | 5,926 | 15.99% |
| 2022-23, Series I | June 28, 2022 | 5,091 | 5,926 | 16.40% |
| 2022-23, Series II | August 30, 2022 | 5,197 | 5,926 | 14.03% |
| 2022-23, Series III | December 27, 2022 | 5,409 | 5,926 | 9.56% |
| 2022-23, Series IV | March 14, 2023 | 5,611 | 5,926 | 5.61% |
(Source: RBI)
First Published: Dec 15, 2023 12:32 PM IST
