Document title: Result of Yield/Price Based Auction of State Government Securities
Issuing authority: Department of Communication, Reserve Bank of India (RBI)
Reference number: Press Release: 2026-2027/1209
Date: 29 September 2026
Capital Markets and Flows
The RBI announced that the auction of state government securities (SGS) raised a total target of ₹22,200 crore. Of this, ₹19,200 crore was accepted, indicating full subscription for the majority of issues. The auction covered securities from Assam, Bihar, Chhattisgarh, Haryana, Jharkhand, Kerala, Madhya Pradesh, Sikkim, Tamil Nadu, Uttar Pradesh, Uttarakhand and West Bengal.
Assam issued a re‑issue of its 7.83 % SGS due 2046 at a cut‑off price of 98.59, corresponding to a yield of 7.9724 % for ₹800 crore, fully subscribed. Bihar issued two re‑issues: a 7.42 % SGS due 2035 and a 7.92 % SGS due 2051, each for ₹800 crore and ₹1,200 crore respectively, with cut‑off prices 97.11 (yield 7.8797 %) and 99.52 (yield 7.9643 %).
Chhattisgarh issued two re‑issues: a 7.40 % SGS due 2035 for ₹250 crore at 96.92 (yield 7.8903 %) and a 7.64 % SGS due 2042 for ₹250 crore at 96.99 (yield 7.9767 %).
Haryana issued two re‑issues: a 7.90 % SGS due 2040 for ₹1,000 crore at 99.42 (yield 7.9689 %) and a 7.69 % SGS due 2048 for ₹1,500 crore at 97.08 (yield 7.9729 %).
Jharkhand issued two identical re‑issues of its 7.72 % SGS due 2038 and 2042, each for ₹100 crore, with cut‑off prices 98.31 (yield 7.9406 %) and 97.89 (yield 7.9549 %).
Kerala issued two re‑issues: a 7.30 % SGS due 2033 for ₹800 crore at 97.14 (yield 7.8491 %) and a 7.56 % SGS due 2039 for ₹1,000 crore at 96.84 (yield 7.9562 %).
Madhya Pradesh issued two re‑issues: a 7.61 % SGS due 2044 for ₹800 crore at 96.47 (yield 7.9832 %) and a 7.75 % SGS due 2056 for ₹700 crore at 97.76 (yield 7.9463 %).
Sikkim issued two securities with cut‑off yields of 7.55 % for a 4‑year tenor and 7.98 % for a 16‑year tenor, each for ₹200 crore.
Tamil Nadu did not receive any acceptance for its 10‑year security; a re‑issue of a 7.62 % SGS due 2041 was offered for ₹2,000 crore but no bids were recorded.
Uttar Pradesh issued three securities: a 7.14 % SGS due 2032 for ₹500 crore at 97.37 (yield 7.7094 %), a 7.59 % SGS due 2042 for ₹1,000 crore at 96.44 (yield 7.9889 %), and an additional issue for ₹1,000 crore at a cut‑off price of 7.95 % (tenor 25 years). All were fully subscribed.
Uttarakhand issued a 7.70 % SGS due 2048 for ₹300 crore at 97.18 (yield 7.9731 %).
West Bengal issued three re‑issues: a 7.07 % SGS due 2031 for ₹1,000 crore at 97.52 (yield 7.6966 %), a 7.64 % SGS due 2044 for ₹1,500 crore at 96.72 (yield 7.9867 %), and a 7.65 % SGS due 2052 for ₹2,200 crore at 96.67 (yield 7.9541 %).
In total, the auction targeted ₹22,200 crore and achieved ₹19,200 crore in accepted bids, reflecting strong demand for state government securities across a wide range of tenors and yields.