Document title: Result of Yield/Price Based Auction of State Government Securities

Issuing authority: Reserve Bank of India

Reference number: Press Release: 2026-2027/570

Date: June 30, 2026

Capital Markets and Flows

The Reserve Bank of India released the outcome of a yield/price based auction of State Government Securities (SGS) conducted on June 30, 2026. Ten separate issuances from six states were offered, with a cumulative amount to be raised of ₹13,600 crore. All issues were fully subscribed, as the amount accepted equals the amount to be raised for each state.

State‑wise details are as follows:

  • Andhra Pradesh: ₹1,000 crore (13‑year) and ₹1,600 crore (re‑issue of 8.07% SGS 2051) both accepted at a cut‑off price of 104.42, corresponding to a yield of 7.6672%.
  • Assam: ₹1,000 crore (re‑issue of 7.62% SGS 2046) accepted at a cut‑off price of 99.83, yield 7.6362%.
  • Punjab: Two tranches, ₹1,000 crore at 7.02% (4‑year) and ₹500 crore at 7.62% (13‑year).
  • Rajasthan: Two tranches, ₹750 crore (re‑issue of 7.97% SGS 2043) at 103.40 (yield 7.6059%) and ₹750 crore at 7.65% (27‑year).
  • Telangana: Four tranches of ₹1,000 crore (13‑year, 7.53%), ₹2,000 crore (18‑year, 7.64%), ₹2,000 crore (23‑year, 7.65%) and ₹2,000 crore (29‑year, 7.65%).

All cut‑off prices are expressed either as a percentage of face value or as a yield, with yields ranging from a low of 7.02% (Punjab, 4‑year) to a high of 7.6672% (Andhra Pradesh re‑issue).

The auction demonstrates robust demand for state‑level debt instruments across varied tenors, indicating healthy investor appetite for longer‑duration sovereign‑linked securities.

In conclusion, the RBI’s yield/price based auction of state government securities on June 30, 2026 resulted in full subscription of ₹13,600 crore, with cut‑off yields spanning 7.02% to 7.6672% and tenors from 4 to 29 years, reflecting strong market participation in state debt issuance.