Capital Markets and Flows
The Reserve Bank of India reported that the yield/price based auction of State Government Securities on 18 August 2026 raised a total of ₹20,200 crore, with the amount offered fully subscribed across all participating states and union territories. The auction comprised multiple re‑issues with tenors extending from 2026 to 2055.
Assam’s re‑issue of the 7.56% SGS maturing in 2036 attracted ₹1,000 crore at a cut‑off price of ₹99.75 and a yield of 7.5950%. Bihar issued two series: a 7.66% SGS due 2041 (₹1,000 crore, price ₹100.08, yield 7.6499%) and a 7.71% SGS due 2044 (₹1,000 crore, price ₹100.48, yield 7.6594%). Delhi’s two issues were a 7.31% SGS due 2033 (₹500 crore, price ₹99.88, yield 7.3308%) and a 7.75% SGS due 2041 (₹500 crore, price ₹100.98, yield 7.6368%).
Jammu and Kashmir’s re‑issue of the 7.91% SGS due 2046 raised ₹500 crore at a price of ₹102.44 and a yield of 7.6666%. Kerala issued two series: a 7.86% SGS due 2042 (₹1,000 crore, price ₹101.62, yield 7.6786%) and a 7.83% SGS due 2049 (₹1,200 crore, price ₹101.82, yield 7.6580%).
Madhya Pradesh issued three series: a 7.39% SGS due 2034 (₹1,000 crore, price ₹99.81, yield 7.4207%), a 7.58% SGS due 2038 (₹1,400 crore, price ₹99.91, yield 7.5904%), and a third tranche of ₹2,000 crore where the cut‑off price column shows “7.66” and the tenor column shows “22” years. Mizoram’s single issue of ₹100 crore recorded a cut‑off price of 7.63 and a tenor of 15 years. Odisha issued ₹1,000 crore at a price of 7.16 with a tenor of 6 years, and a second tranche of ₹1,000 crore at a price of ₹100.31 and a yield of 7.6669% for a 2044 maturity.
Telangana’s two issues were a 7.70% SGS due 2037 (₹1,000 crore, price ₹100.87, yield 7.5774%) and a 7.65% SGS due 2055 (₹1,000 crore, price ₹99.90, yield 7.6574%). Uttar Pradesh’s re‑issue of the 7.74% SGS due 2038 raised ₹500 crore at a price of ₹101.14 and a yield of 7.5899%. Uttarakhand’s 7.70% SGS due 2048 attracted ₹300 crore at a price of ₹100.44 and a yield of 7.6574%.
West Bengal issued two series: a 7.58% SGS due 2035 (₹1,500 crore, price ₹99.86, yield 7.6005%) and a 7.71% SGS due 2047 (₹2,200 crore, price ₹100.44, yield 7.6666%). The aggregate amount offered and accepted across all states and union territories summed to ₹20,200 crore, indicating complete subscription.
The press release was signed by Deputy General Manager Ajit Prasad of the RBI Communications Department, confirming the auction outcomes.