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On what basis does Zerodha block money for the bids for G-secs?

G-sec orders are collected and sent to the exchange. The exchange then blocks the necessary funds in the following manner:

Type of security Unit multiplier Value per unit (₹) Minimum amount blocked (₹)
SDL 100 105 10,500
T-bills 100 100 10,000
G-sec 100 Decided by the exchange. Decided by the exchange.

Did you know? The reserve amount blocked for G-secs is the estimated weighted average rate of all allotments to competitive bidders + accrued interest + markup value (difference between the lowest and highest bid).

The excess amount that remains after reducing the allotment amount from the blocked amount is credited to the Zerodha account. See, Where will the excess amount blocked for G-sec orders be credited?