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

Issuing authority: Reserve Bank of India (RBI)

Reference number: Press Release 2026-2027/1066

Date: 08 September 2026

Capital Markets and Flows

The Reserve Bank of India announced the outcome of the yield/price based auction of State Government Securities (SGS) conducted on 8 September 2026. A total of ₹16,900 crore was raised, and the full amount was accepted across all participating states and union territories.

Andhra Pradesh issued three re‑issues: a 7.46 % SGS due 2035 (₹1,000 crore) with a cut‑off price of 98.97 and yield 7.6198 %; a 7.65 % SGS due 2043 (₹1,200 crore) at 99.03 and yield 7.7551 %; and a 7.64 % SGS due 2056 (₹1,600 crore) at 98.63 and yield 7.7576 %. All three issues were fully subscribed.

Gujarat issued two re‑issues: a 7.47 % SGS due 2036 (₹1,000 crore) at 99.17 and yield 7.5896 %; and a 7.59 % SGS due 2041 (₹1,000 crore) at 99.20 and yield 7.6803 %, both fully subscribed.

Maharashtra issued three re‑issues: a 7.55 % SGS due 2034 (₹1,000 crore) at 100.01 and yield 7.5460 %; a 7.77 % SGS due 2044 (₹2,200 crore) at 100.11 and yield 7.7570 %; and a 7.79 % SGS due 2054 (₹2,400 crore) at 100.33 and yield 7.7596 %, each receiving full acceptance.

Punjab issued a 7.65 % SGS due 2043 (₹1,200 crore) at a cut‑off price of 98.61 and yield 7.7983 %, together with a 7.75 % SGS (₹800 crore) at a price of 7.75, both fully subscribed.

Jammu and Kashmir issued a 7.60 % SGS due 2038 (₹500 crore) at 99.17 and yield 7.7061 %, and a separate 18‑year issue (₹500 crore) at a price of 7.75, both fully subscribed.

Rajasthan issued a 7.57 % SGS due 2035 (₹1,000 crore) at 99.61 and yield 7.6290 %, and a 22‑year issue (₹1,000 crore) at a price of 7.76, both fully subscribed.

Goa raised ₹100 crore at a price of 7.63 for a 10‑year tenor, fully subscribed. Meghalaya raised ₹400 crore at a price of 7.55 for a 7‑year tenor, fully subscribed. Punjab’s 9‑year issue of ₹800 crore was priced at 7.75 and fully subscribed.

In total, the auction covered 17 states/UTs, with the aggregate amount to be raised and amount accepted both equal to ₹16,900 crore, indicating complete market absorption of the offered securities.

The release was signed by Deputy General Manager Ajit Prasad, Communications, RBI.

Overall, the auction results demonstrate robust demand for state government securities across a range of tenors and yields, reflecting continued investor confidence in Indian sovereign and sub‑sovereign debt instruments.