Document title: State Government Securities - Full Auction Result

Issuing authority: State Government (Press Release 2026-2027/467)

Reference number: 2026-2027/467

Date: 16 June 2026

Capital Markets and Flows

On 16 June 2026 the State Governments conducted a full auction of marketable securities amounting to a total notified issue of ₹21,600 crore. The auction covered a variety of tenors ranging from 6‑year to 12‑year securities issued by multiple states including Andhra Pradesh, Assam, Gujarat, Haryana, Jammu & Kashmir, Maharashtra, Punjab, Rajasthan, Telangana and others.

Aggregate bidding activity

  • Competitive bids received: 11,58 distinct bids amounting to ₹69,037.4 crore.
  • Competitive bids accepted: 299 bids with a total accepted amount of ₹19,626.252 crore.
  • Non‑competitive bids received: 146 bids totalling ₹949.633 crore; all were accepted for ₹835.038 crore.
  • Overall total allotment across all issues: ₹20,461.29 crore.

Yield outcomes

  • Cut‑off yields across the issues varied between 7.28% and 7.82%.
  • Weighted average yields for individual issues were clustered in the 7.4%‑7.8% band, for example: Andhra Pradesh 6‑year issue at 7.28%, Assam 10‑year at 7.66%, Maharashtra 7‑year at 7.7496%, Punjab 7‑year at 7.55%, Telangana 9‑year at 7.6389%, etc.

State‑wise highlights

  • Andhra Pradesh issued three securities (6‑year, re‑issue of 7.79% and re‑issue of 7.81%) with notified amounts of ₹1,000‑₹1,800 crore each; weighted average yields ranged from 7.28% to 7.8043% and total allotments matched the notified amounts.
  • Assam SGS 2036 (10‑year) had a notified amount of ₹1,000 crore, cut‑off yield 7.66% and total allotment ₹1,000 crore.
  • Maharashtra issued SGS 2044 (₹1,600 crore, 7.77% re‑issue) and SGS 2054 (₹800 crore, 7.79% re‑issue); weighted average yields were 7.7423% and 7.7674% respectively, with total allotments equal to notified amounts.
  • Punjab had a 7‑year issue (₹1,000 crore, 7.92% re‑issue) where only ₹934.159 crore was allotted (partial allotment). The 8‑year issue (₹1,000 crore) was fully allotted.
  • Uttarakhand (9‑year issue, ₹1,300 crore) received a partial allotment of ₹427.131 crore.
  • Gujarat did not accept any amount for its 12‑year security despite a notified amount of ₹1,200 crore.
  • Telangana issued three securities (2033, 2037, 2047) with notified amounts of ₹2,830 crore, ₹1,970 crore and ₹3,391 crore respectively; weighted average yields were 7.4371%, 7.6389% and 7.7891% with total allotments of ₹750 crore, ₹500 crore and ₹750 crore.
  • Rajasthan issued SGS 2035 (₹1,200 crore, 9‑year) and SGS 2041 (₹1,800 crore, 7.87% re‑issue) and SGS 2049 (₹1,000 crore, 7.81% re‑issue); weighted average yields were 7.5635%, 7.7751% and 7.7934% respectively, with full allotments matching notified amounts.

Partial allotment percentages

  • Where partial allotments occurred, the percentage of competitive bids allotted varied widely, e.g., Andhra Pradesh 6‑year issue 79.25%, Punjab 7‑year issue 42.07%, Telangana 2033 issue 83.33%, Telangana 2037 issue 95.59%, etc.

The auction results indicate robust demand for state securities, with competitive bidding volumes exceeding the total issuance by more than three times and yields clustering around the mid‑7% range, reflecting prevailing market conditions for sovereign‑linked debt.