Karachi: The 20th auction of the Government of Pakistan Ijarah Sukuk (GIS) is scheduled for April 30, 2025, through the Pakistan Stock Exchange (PSX) Auction System. This event is open to Broker Clearing Members (BCMs), Non-Broker Clearing Members (NBCMs), and Professional Clearing Members (PCMs) of the National Clearing Company of Pakistan Limited (NCCPL), allowing participation for their proprietary accounts, investors, and managed funds.

According to the PSX Notice #PSX/N-366 dated April 09, 2025, the auction will utilize the same Participant Admin User details as employed in the previous auction on March 6, 2025. Participants must use their existing credentials for investor mapping, cash assignment, and bidding. Any amendments to the Participants' Admin user details should be communicated to PSX/NCCPL via email.

BCM participants are required to submit a 10% advance committed amount and notify PSX/NCCPL by email, specifying "Primary Market Auction Setup" in the subject line. Investors registered in the March auction will remain in the system, and participants need only to map instruments and assign cash as necessary. The auction system, integrated with the CDC system, mandates accurate UIN, CDC Participant ID, and other relevant details for investor registration.

The designated market category for this auction involves activities commencing from April 25 to April 28, 2025. BCM participants must express interest and deposit the advance cash amount through the GDS Advance Deposit screen on their NCSS terminals. New participants are required to provide Admin user details for both Front Office and Back Office operations.

From April 25 to April 28, 2025, credentials for the Auction System will be communicated to registered participants via email and mobile. Participants must map auction instruments and assign cash using their credentials from the previous auction. Those who did not participate in the 18th auction must register investors and complete mapping activities.

According to information available from the Pakistan Stock Exchange (PSX), the advance cash amount committed to NCCPL must be deposited by April 29, 2025. Failure to do so will result in the participant's disqualification from the bidding session.

The auction of all seven instruments, both competitive and non-competitive, will occur on April 30, 2025, from 10:00 a.m. to 12:00 p.m. The final collection of settlement amounts is scheduled for May 2, 2025, from 9:00 a.m. to 12:00 p.m.