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

Issuing authority: Reserve Bank of India

Reference number: Press Release: 2026-2027/1116

Date: September 15, 2026

Capital Markets and Flows

The Reserve Bank of India released the outcome of the yield/price based auction of State Government Securities conducted on September 15, 2026. The auction targeted a total issue size of ₹35,900 crore across 16 states and union territories. A cumulative amount of ₹34,645.055 crore was accepted, indicating a high level of subscription.

State‑wise allocations and results are as follows:

  • Arunachal Pradesh: ₹600 crore offered, ₹600 crore accepted at a cut‑off price of 7.94% for a 20‑year tenor.
  • Assam: ₹600 crore offered for a 15‑year security (no acceptance) and ₹700 crore offered for a 15‑year security (no acceptance). For the re‑issue of 7.66% Assam SGS 2036 (issued 17 June 2026), ₹600 crore was offered and ₹445.055 crore accepted at a cut‑off price of 98.73/7.8460%.
  • Bihar: Two issues – ₹1,000 crore each. The 7.66% SGS 2041 (issued 22 July 2026) accepted fully at 97.50/7.9480%; the 7.71% SGS 2044 (issued 22 July 2026) accepted fully at 97.10/8.0166%.
  • Chhattisgarh: Two issues – ₹500 crore each. Accepted fully at cut‑off yields of 7.88% (12‑year) and 7.99% (21‑year).
  • Delhi: Two issues – ₹300 crore each. Re‑issue of 7.31% SGS 2033 accepted at 98.21/7.6478%; re‑issue of 7.75% SGS 2041 accepted at 98.68/7.9008%.
  • Goa: ₹100 crore accepted at 7.80% for an 11‑year tenor.
  • Haryana: Two issues – ₹1,000 crore accepted at 7.90% (14‑year) and ₹2,000 crore accepted at 7.92% (26‑year).
  • Kerala: Two issues – ₹1,000 crore accepted at 8.07% (18‑year) and ₹1,200 crore accepted at 7.91% (25‑year).
  • Madhya Pradesh: Three issues – ₹700 crore accepted at 98.08/7.7181% (2034), ₹900 crore accepted at 97.78/7.8695% (2038), and ₹900 crore accepted at 96.82/7.9682% (2048).
  • Mizoram: ₹100 crore accepted at 7.94% for a 15‑year tenor.
  • Odisha: Two issues – ₹1,000 crore accepted at 97.88/7.6094% (2032) and ₹1,000 crore accepted at 97.35/7.9793% (2044).
  • Tamil Nadu: Three issues – ₹2,000 crore accepted at 97.65/7.8341% (2036), ₹2,000 crore accepted at 97.47/7.9107% (2041), and ₹2,000 crore accepted at 97.62/7.9192% (2051).
  • Telangana: Four issues – ₹1,500 crore accepted at 96.88/7.9202% (2039), ₹2,000 crore accepted at 96.43/8.0182% (2044), ₹2,000 crore accepted at 96.77/7.9575% (2049), and ₹2,000 crore accepted at 97.21/7.8952% (2055).
  • Uttar Pradesh: Two issues – ₹1,000 crore accepted at 98.93/7.8790% (2038) and ₹1,600 crore accepted at 98.75/7.9446% (2046).
  • Uttarakhand: The 7.87% SGS 2044 issue of ₹400 crore received no acceptance; a separate 7.70% SGS 2048 issue of ₹300 crore was accepted at 97.46/7.9453%.
  • West Bengal: Two issues – ₹1,500 crore accepted at 97.79/7.9298% (2035) and ₹2,200 crore accepted at 97.30/7.9762% (2047).

The overall cut‑off yields across the auction ranged from a low of 7.64% (Telangana 2044) to a high of 8.07% (Kerala 18‑year), reflecting market pricing for state‑level debt.

The press release was issued by Deputy General Manager Ajit Prasad of the RBI Communications Department.